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.
Appears in 4 contracts
Samples: Prototype Defined Contribution Plan (FNB United Corp.), Prototype Defined Contribution Plan (United Community Bancorp), Measurement Specialties Inc
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, the Employer had elected that the Qualified Pre-Retirement Survivor Annuity shall be 100% of the Account Balance.
Appears in 2 contracts
Samples: Prototype Defined Contribution Plan (Georgetown Bancorp, Inc.), Nonstandardized Adoption Agreement (Chicopee Bancorp, Inc.)
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.the
Appears in 1 contract
Samples: Century Bancorp Inc
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 '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 '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.
Appears in 1 contract
Samples: Nonstandardized Adoption Agreement (Banctrust Financial Group Inc)
