Lump Sum Payment Option. This option provides for a lump-sum cash payment of the amount of the full or partial Termination Payment and is available only if the Market Value Factor equals or exceeds one hundred percent as of the Termination Date or the Partial Termination Date. MassMutual will determine the GIA Market Value of the General Account Assets as of the Termination Date or the Partial Termination Date, which amount will be held in the general investment account of MassMutual and credited with the Holding Account Interest Rate from the Termination Date or the Partial Termination Date until disbursed in one sum in accordance with Section 4.04 not later than [six] months after the Termination Date or the Partial Termination Date, provided that if the GIA Market Value is larger than $[1.5] million, MassMutual may make payment in installments at four-week intervals. Each installment withdrawn is limited to the larger of $[1.5] million or [ten percent (10%)] of the total amount to be withdrawn and the first payment will be made not later than [six] months after the Termination Date or the Partial Termination Date. #2
Lump Sum Payment Option. The parties agree that payments will be made within a range of 6 - 12 months. The timeframe will be shown here. The amount enclosed in brackets is currently set at 1.5 million or ten percent. The amount may range from 1.5 million to 10 million and the percentage will be at least 10%. Any change will be made in a like and nondiscriminatory manner for all Investors in the same class of business. #2 The term “participants” or “members” will be included based on the product type. The Act is variable and will be excluded if the Labor Management Relations Act of 1947 does not apply to the contract. Page 12 #1 The Investor must provide advance notice in the event of plan termination, or if the plan fails to meet the applicable Code or Act requirements, depending upon product variability. It is also bracketed to allow for any amendments made to the Code. The standard number used in the contract is 7 days advance notice. This is bracketed to accommodate a change in administrative procedure or to accommodate a change as negotiated between MassMutual and the Investor. The range of values will be between 2 and 15 days. #2 The timeframe in which the Investor must provide Effective Communication will be negotiated between MassMutual and the Investor and will be a range of 30-90 days. MassMutual must determine whether it can continue to operate the contract given the plan change within 45 days of receiving notice. This number is bracketed to accommodate a change in administrative procedure or to accommodate a change as negotiated between MassMutual and the Investor. The range of values will be between 15 and 45 days. The term “Fund Sponsor” or “Board of Trustees” will be used based upon product variability. Page 14 #1 The variable text will be included or removed based on negotiations between MassMutual and the Investor. #2 MassMutual and the Investor may negotiate a time period of 30 to 90 days. Page 15 #1 The language in brackets will either be included or excluded as negotiated by the parties. #2 MassMutual and the Investor may negotiate a time period of 30 to 180 days for the time frames in brackets. #3 Section number is variable to allow for renumbering. #4 Section number is variable to allow for renumbering.
Lump Sum Payment Option. This option provides for a lump-sum cash payment. The amount of the Market Value of the General Account Assets will be paid in one sum in accordance with Section 5.06 not later than six (6) months after the Termination Date, provided that if the Market Value of the General Account Assets is larger than $1.5 million, MassMutual may make payment in installments at four-week intervals. Each installment withdrawn is limited to the larger of $1.5 million or ten percent (10%) of the total amount to be withdrawn and the first payment will be made not later than six (6) months after the Termination Date.
Lump Sum Payment Option. Subject to the terms of Section 3.4, a Deferred Covered Life may elect to receive a lump sum payment in lieu of and in full settlement for the Annuity Payments which would otherwise be payable under this Contract. The lump sum payment will be paid on the Deferred Covered Life’s Annuity Commencement Date provided that Prudential has received the Deferred Covered Life’s lump sum election. The amount of the lump sum payment will be determined using the Applicable Interest Rate and Applicable Mortality Table. The disclosure and spousal consent requirements of Section 417 of the Code in effect from time to time will apply to a lump sum payment.
Lump Sum Payment Option. 76 Mail Order Prescription Plan (MOPP)................................ 77 Material Handler Bumping Rights ..................................... 78 Non-Precedent Setting Agreement ................................... 79
Lump Sum Payment Option. 1. Frontier Communications, Inc. and IBEW Local Union No. 543 agree to continue the Plan for Hourly Employee’s Pensions (hereinafter referred to as the Plan).
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Lump Sum Payment Option. A") The retirement benefit will be paid in one sum on the date of retirement or, for optimum tax advantage, on an agreed-upon deferred date or in predetermined instalments acceptable to the employee, and will be based on scale salary without allowances in the following amounts: Full Years to Retirement Payout 1 Up to 15% of annual salary 2 Up to 30% of annual salary 3 Up to 45% of annual salary
Lump Sum Payment Option. 1. CenturyTel of Central Wisconsin, LLC and Telephone USA of Wisconsin, LLC will provide a lump sum option as provided in the CenturyLink Retirement Plan. For employees in the bargaining unit prior to February 3, 2007, the lump sum option provided in the CenturyLink Retirement Plan shall remain available to them unchanged. For employees entering or re-entering the Union on or after February 3, 2007 and new contract expiration date, inclusive, any lump sum option will be as provided in the CenturyLink Retirement Plan.
