10 Year Certain Single Life Annuity definition

10 Year Certain Single Life Annuity means a series of equal monthly payments for the life of the Participant with 10 years of guaranteed payments.
Sample 1

Examples of 10 Year Certain Single Life Annuity in a sentence

  • In the event that the Participant’s 10 Year Certain Single Life Annuity has commenced and the Participant dies prior to receiving at least 120 monthly installment payments, the Bank shall pay the present value (using the Discount Rate) of the remainder of such installment payments to the Participant’s Beneficiary in a single cash lump sum distribution no later than the first day of the second month following the Participant’s date of death.

  • If the Participant becomes Disabled, the Participant shall be entitled to the Disability Benefit, payable starting on the first day of the second month following the date on which the Participant is determined to be Disabled as a 10 Year Certain Single Life Annuity, unless the Participant has elected an alternative form of payment in accordance with Section 3.5 below.

  • My Retirement Benefit is an annual benefit equal to $ , payable as a 10 Year Certain Single Life Annuity (as defined in the Plan).

  • In the event of the Participant’s Separation from Service prior to the Retirement Date, the Participant shall be entitled to the Termination Benefit, payable starting on the first day of the second month following the Participant’s Retirement Date as a 10 Year Certain Single Life Annuity, unless the Participant has elected an alternative form of payment in accordance with Section 3.5 below.

  • Fixed Annuity Options Option 1, 10 Year Certain Single Life Annuity – We will make monthly payments for 10 years, or for as long as the Payee lives.

  • The benefits may be paid in one of the following forms: (i) 10 Year Certain Single Life Annuity; (ii) Single Life Annuity; (iii) Joint and 100% Survivor Annuity; or (iv) Joint and 50% Survivor Annuity.

  • My Termination Benefit shall commence on the first day of the second month following my Retirement Date and shall be payable as a 10 Year Certain Single Life Annuity.

  • Upon Separation from Service on or after the Retirement Date, the Participant shall be entitled to the Retirement Benefit, payable starting on the first day of the second month following the date on which the Participant Separates from Service as a 10 Year Certain Single Life Annuity, unless the Participant has elected an alternative form of payment in accordance with Section 3.5 below.

  • My Disability Benefit shall commence one the first day of the second month following the date on which I am determined to be Disabled and shall be payable as a 10 Year Certain Single Life Annuity.

Related to 10 Year Certain Single Life Annuity

  • Single Life Annuity means a Participant’s Grandfathered Benefit and/or 409A Benefit, as applicable, payable as an annuity in equal monthly installments over the life of the Participant, commencing as of the Payment Date and terminating in the month in which the Participant dies, with no further payments thereafter.

  • life annuity means an annuity payable under a policy issued to an SRS member for a term ending with, or at a time ascertainable only by reference to, the end of his life;

  • Qualified Preretirement Survivor Annuity means an annuity which is payable for the life of the Participant's surviving spouse.

  • Qualified Joint and Survivor Annuity means an immediate annuity for the life of the Participant with a survivor annuity for the life of the Spouse which is fifty percent (50%) 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.

  • Annuity means a stated sum payable periodically at stated times during life or during a specified or ascertainable period of time under an obligation to make the payments in return for adequate and full consideration in money or money's worth.

  • Lump Sum means the total sum which will have become payable to the Contractor by the Principal upon completion of the Works.

  • Annuity Starting Date means, with respect to any Participant, the first day of the first period for which an amount is paid as an annuity, or, in the case of a benefit not payable in the form of an annuity, the first day on which all events have occurred which entitles the Participant to such benefit.

  • Actuarial equivalent means a benefit of equal value when

  • Actuarially Equivalent or "of equal actuarial value" means a benefit of equal value

  • Joint and Survivor Annuity means an immediate annuity for the life of a Participant with a survivor annuity for the life of the Participant's Spouse which is not less than fifty percent (50%), nor more than one hundred percent (100%) of the amount of the annuity payable during the joint lives of the Participant and the Participant's Spouse which can be purchased with the Participant's Vested interest in the Plan reduced by any outstanding loan balances pursuant to Section 7.4.

  • Required Beginning Date means April 1 of the calendar year following the later of:

  • Structured settlement annuity means an annuity purchased in order to fund periodic payments for a plaintiff or other claimant in payment for or with respect to personal injury suffered by the plaintiff or other claimant.

  • ANNUITY DATE The date on which Annuity Payments begin. The Annuity Date is shown on the Contract Schedule. ANNUITY OPTIONS: Options available for Annuity Payments.

  • Net death benefit means the amount of the life insurance policy or certificate to be settled less any outstanding debts or liens.

  • Pre-Retirement Survivor Benefit means the benefit set forth in Article 6.

  • Annuity Payments The series of payments made to the Owner or any named payee after the Annuity Date under the Annuity Option selected. ANNUITY PERIOD: The period of time beginning with the Annuity Date during which Annuity Payments are made.

  • Actuarial method means the method of allocating a fixed level monthly payment on an obligation between principal and interest, pursuant to which the portion of such payment that is allocated to interest is equal to the product of (a) 1/12, (b) the fixed annual rate of interest on such obligation and (c) the outstanding principal balance of such obligation.

  • Public benefit means making capital available, or facilitating the availability of capital, to businesses in this state that have 750 or fewer employees, the intent of which is to create or retain employment opportunities for residents of this state, stabilize or increase the tax base of this state, or support the redevelopment of facilities for use by small businesses.

  • Supplemental Benefit means the monthly benefit payable to the Executive under this Agreement.

  • Death Benefit means the insurance amount payable under the Certificate at death of the Insured, subject to all Certificate provisions dealing with changes in the amount of insurance and reductions or termination for age or retirement. It does not include any amount that is only payable in the event of Accidental Death.

  • Starting Date means the date referred to in Clause 3.3 hereof;

  • Surviving Spouse means the widow or widower, as the case may be, of a Deceased Participant or a Deceased Beneficiary (as applicable).

  • Group Annuity Contract means a master contract providing annuities to a group of persons under a single con- tract.