Qualified Pre-Retirement Survivor Annuity Sample Clauses

Qualified Pre-Retirement Survivor Annuity. Unless an optional form of benefit has been selected within the Election Period pursuant to a Qualified Election, if a Participant dies before the Annuity Starting Date then the Participant's Vested Account Balance shall be paid in the form of a Qualified Pre-Retirement Survivor Annuity. The Surviving Spouse may elect to elect to have such annuity distributed within a reasonable period after the Participant's death.
AutoNDA by SimpleDocs
Qualified Pre-Retirement Survivor Annuity. An annuity for the life of the Surviving Spouse of a Participant the actuarial equivalent of which is not less than 50% of the Participant’s Vested Account Balance as of the date of the Participants’ death, as elected by Employer in the Adoption Agreement. If no selection is made on the Adoption Agreement, and the Plan is subject to the Qualified Joint and Survivor Annuity provisions, the Qualified Pre-Retirement Survivor Annuity shall be 50% of the Participant’s Vested Account Balance as of the date of the death of the Participant, unless the Employer in a prior version of the Adoption Agreement or Plan, had elected that the Qualified Pre-Retirement Survivor Annuity be 100% of the Account Balance.
Qualified Pre-Retirement Survivor Annuity. In the case of a Qualified Pre-retirement Survivor Annuity as described above, the Committee shall provide each Participant with a written explanation of the Qualified Pre-retirement Survivor Annuity in such terms and in such manner as would be comparable to the explanation provided for meeting the requirement applicable to explaining a Qualified Joint and Survivor Annuity within whichever of the following periods ends last:
Qualified Pre-Retirement Survivor Annuity. An annuity for the life of the Surviving Spouse of a Participant the actuarial equivalent of which is not less than 50% of the vested Participant’s Account Balance as of the date of the Participants’ death, as elected by Employer in the Adoption Agreement. If no election is made on the Adoption Agreement the Qualified Pre-Retirement Survivor Annuity shall be 50% of the Participant’s Vested Account Balance as of the date of the death of the Participant, unless the Employer in a prior version of the Adoption Agreement or Plan, had elected that the Qualified Pre-Retirement Survivor Annuity be 100% of the Account Balance.
Qualified Pre-Retirement Survivor Annuity. In the case of a Qualified Pre-retirement Survivor Annuity, the Plan Administrator shall provide each Participant within the applicable period for such Participant, a written explanation of the Qualified Pre-retirement Survivor Annuity in such terms and in such manner as would be comparable to the explanation provided for meeting the requirements in subsection (a) above applicable to a Qualified Joint and Survivor Annuity. The applicable period for a Participant is whichever of the following periods ends last:
Qualified Pre-Retirement Survivor Annuity. Do not complete this section if paragraph (J)(1)
Qualified Pre-Retirement Survivor Annuity. In the case of a Qualified Pre-Retirement Survivor Annuity as described in Section 7.10(C), the Committee shall provide each Participant within the applicable period for such Participant a written explanation of the Qualified Pre-Retirement Survivor Annuity in such terms and in such manner as would be comparable to the explanation provided for meeting the requirements of Section 7.10(E) applicable to a Qualified Joint and Survivor Annuity. The applicable period for a Participant is whichever of the following periods ends last: (i) the period beginning with the first day of the Plan Year preceding the Plan Year in which the Participant attains age thirty-two (32) and ending with the close of the Plan Year in which the Participant attains age thirty-five (35); (ii) a reasonable period ending after the individual becomes a Participant; (iii) a reasonable period ending after Section 7.10(E)(3) ceases to apply to the Participant; and (iv) a reasonable period ending after Section 7.10 first applies to the Participant. Notwithstanding the foregoing, notice must be provided within a reasonable period ending after separation from service in the case of a Participant who separates from service before attaining age thirty-five (35). For purposes of applying the preceding paragraph, a reasonable period ending after the enumerated events described in (ii), (iii) and (iv) is the end of the two-year period beginning one year prior to the date the applicable event occurs, and ending one year after that date. In the case of a Participant who separates from service before the Plan Year in which age 35 is attained, notice shall be provided within the two-year period beginning one-year prior to separation and ending one year after separation. If such a Participant thereafter returns to employment with the Employer, the applicable period for such participant shall be redetermined.
AutoNDA by SimpleDocs
Qualified Pre-Retirement Survivor Annuity. In the event the Plan provides for acceptance of certain transferred contributions (within the meaning of Section 401(a) (11)(B)(iii)(III) of the Code) which shall be signified by an affirmative election pursuant to either Section III.F.3, 4 or 5 of the Adoption Agreement or permits payment of benefits as a life annuity, death benefits which become payable shall be paid as follows: In the case of a transfer contribution, the funds so transferred, including any appreciation, depreciation interest, accretions or declarations or in the case of election of a life annuity payment, the Participant's entire Account, shall be paid the Participant's surviving spouse in the form of a Qualified Pre-Retirement Survivor's Annuity as more particularly set forth in Section 12.5 hereof, regardless of any contrary designation of Beneficiaries made by the Participant, provided, however, that the Participant may designate a Beneficiary other than his spouse or another form of payment if such designation complies with the requirements of Section 417(a)(2)(A) of the Code and Article XII Section 12.5 hereof.
Qualified Pre-Retirement Survivor Annuity. (a) Notwithstanding the provisions of Sections 12.1 and 12.2 hereof, in the event a Participant (who has elected to receive benefits in the form of a life annuity) dies before the Annuity Starting Date, his benefit shall be paid in the form of a Qualified Pre-retirement Survivor Annuity unless he elects out of that form of benefit and his Spouse has consented thereto;
Qualified Pre-Retirement Survivor Annuity. A Pre-Retirement Survivor Annuity for which the Beneficiary is the spouse of the Participant and the benefit the Participant would have received is a Qualified Joint and Survivor Annuity (or the actuarial equivalent thereof).
Time is Money Join Law Insider Premium to draft better contracts faster.