Other Annuity Form Sample Clauses

Other Annuity Form. The Executive may elect, in accordance with written procedures established by the Company for this purpose, to have the Pension paid in the following annuity forms under the Bunge U.S. Pension Plan (such plan, together with any successor or replacement plan(s), shall hereinafter be referred to as the “Retirement Plan”): (i) single life annuity, (ii) 100% qualified joint and survivor annuity, (iii) 75% qualified joint and survivor annuity, (iv) 00 0/0 xxxxxxxxx xxxxx xxx xxxxxxxx xxxxxxx, (x) 50% qualified joint and survivor annuity, (vi) single life annuity with a 10-year term certain payment option or (vii) 100% qualified joint and survivor annuity with a 10-year term certain payment option. If the Executive does not elect an annuity form, his Pension shall be paid in the form of the 100% qualified joint and survivor annuity with a 10-year term certain payment option. Such election may be changed by the Executive at any time by a subsequent election filed with the Company, as long as such subsequent election is filed with the Company at least 30 days prior to the Executive’s termination of employment with the Company (or such lesser period prior to such termination of employment as the Compensation Committee shall permit). For any annuity made under this Section 4.2 (other than a single life annuity commencing after the Executive attains age 65), actuarial equivalence shall be made and determined (i) in accordance with the factors and other relevant assumptions set forth in the Retirement Plan and (ii) to the extent actuarial equivalence for an annuity form is not specified in the Retirement Plan, based on actuarial assumptions reasonably established by the Company’s actuary for the Retirement Plan.
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Other Annuity Form. The Executive may elect, in accordance with written procedures established by the Company for this purpose, to have the Pension paid (a) in any annuity form permissible under the Bunge Management Services Inc. Pension Plan (such plan, together with any successor or replacement plan(s), shall hereinafter be referred to as the "Retirement Plan") over his life and the life of the person, if any, to whom the Executive is legally married at the time of his death (his "Surviving Spouse"), (b) as a single life annuity with a 10-year term certain payment option or (c) as a 100% qualified joint and survivor annuity with a 10-year term certain payment option. Such election shall be made by the Executive as soon as practicable after the Effective Date and may be changed at any time by a subsequent election filed with the Company, as long as such subsequent election is filed with the Company at least 12 months prior to the Executive's termination of employment with the Company (or such lesser period prior to such termination of employment as the Compensation Committee shall permit). For any annuity made under this Section 4.2 (other than a single life annuity commencing after the Normal Retirement Date), actuarial equivalence shall be made and determined (a) in accordance with the factors and other relevant assumptions set forth in the Retirement Plan and (b) to the extent actuarial equivalence for an annuity form is not specified in the Retirement Plan, based on actuarial assumptions reasonably established by the Company's actuary for the Retirement Plan.
Sample 1

Related to Other Annuity Form

  • Annuity 24.1 If the policy schedule states that the insured amount is a surviving dependant's annuity within the meaning of Section 3.125(1)(b) of the Income Tax Act 2001, this article shall apply.

  • Life Annuity The monthly annuity shall be payable to the annuitant for as long as the annuitant lives, and shall end with the last monthly payment before the death of the annuitant.

  • JOINT AND SURVIVOR ANNUITY The Advisory Committee must direct the Trustee to distribute a married or unmarried Participant's Nonforfeitable Accrued Benefit in the form of a qualified joint and survivor annuity, unless the Participant makes a valid waiver election (described in Section 6.05) within the 90 day period ending on the annuity starting date. If, as of the annuity starting date, the Participant is married, a qualified joint and survivor annuity is an immediate annuity which is purchasable with the Participant's Nonforfeitable Accrued Benefit and which provides a life annuity for the Participant and a survivor annuity payable for the remaining life of the Participant's surviving spouse equal to 50% of the amount of the annuity payable during the life of the Participant. If, as of the annuity starting date, the Participant is not married, a qualified joint and survivor annuity is an immediate life annuity for the Participant which is purchasable with the Participant's Nonforfeitable Accrued Benefit. On or before the annuity starting date, the Advisory Committee, without Participant or spousal consent, must direct the Trustee to pay the Participant's Nonforfeitable Accrued Benefit in a lump sum, in lieu of a qualified joint and survivor annuity, in accordance with Section 6.01, if the Participant's Nonforfeitable Accrued Benefit is not greater than $3,500. This Section 6.04(A) applies only to a Participant who has completed at least one Hour of Service with the Employer after August 22, 1984.

  • Qualified Joint and Survivor Annuity An immediate annuity for the life of the Participant with a survivor annuity for the life of the spouse which is not less than 50% and not more than 100% of the amount of the annuity which is payable during the joint lives of the Participant and the spouse and which is the amount of benefit which can be purchased with the Participant's vested account balance. The percentage of the survivor annuity under the Plan shall be 50% (unless a different percentage is elected by the Employer in the Adoption Agreement).

  • Annuity Plan Teachers will be eligible to participate in a “tax sheltered” annuity plan established pursuant to United States Public Law No. 87-370.

  • Fixed Annuity 10 1.16 Fund(s) ........................................................... 10 1.17

  • INSTRUCTIONS FOR COMPLETING REPAYMENT ELECTION FORM AND EXERCISING REPAYMENT OPTION Capitalized terms used and not defined herein have the meanings defined in the accompanying Repayment Election Form.

  • Death Benefit Should Employee die during the term of employment, the Company shall pay to Employee's estate any compensation due through the end of the month in which death occurred.

  • ANNUITY OPTIONS The following Annuity Options are available under this Contract. Additional options may become available in the future:

  • Designation of Beneficiary The depositor may designate a beneficiary or beneficiaries to receive benefits from the custodial account in the event of the depositor’s death. In the event the depositor has not designated a beneficiary, or if all beneficiaries shall predecease the depositor, the following persons shall take in the order named:

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