Beneficiary designation means the naming in a governing instrument of a beneficiary of an insurance or annuity policy, of an account with POD designation, of a security registered in beneficiary form (TOD), of a pension, profit-sharing, retirement, or similar benefit plan, or of another nonprobate transfer at death.
Beneficiary designation means a writing executed by the Participant pursuant to the following rules:
Beneficiary designation means a document specifying the Beneficiary/Beneficiaries who is/are to receive any part of the Participant's Account in the event of the Participant's death.
Examples of Beneficiary designation in a sentence
If we approve it, a designation, which meets the requirements of a Prior Plan, will be accepted as your Beneficiary designation under the Group Policy.
The Beneficiary or Beneficiaries designated under this Plan may be the same as or different from the Beneficiary designation made under any other plan of the Employer.
Any other primary Beneficiary designation will be treated as the contingent Beneficiary.
Beneficiary designation: Please complete for Registered Plans when transferring from Nominee to Client only.
If we approve it, a designation which meets the requirements of a Prior Plan will be accepted as your Beneficiary designation under the Group Policy.
More Definitions of Beneficiary designation
Beneficiary designation means an instrument, other than an instrument creating or amending a trust, naming the beneficiary of:
Beneficiary designation means an instrument, other than an instrument creating a trust, naming the beneficiary of an insurance or annuity policy; an account with a designation for payment on death; a security registered in beneficiary form; a pension, profit-sharing, retirement, or other employment-related benefit plan; or any other nonprobate transfer at death.
Beneficiary designation means the form of written agreement, attached hereto as Annex II, by which the Participant names the Beneficiary(ies) of the Plan.
Beneficiary designation. You may name a Beneficiary or Beneficiaries to receive any portion of your Award that is to be settled after you die. This may be done only on the attached Beneficiary Designation Form and by following the rules described in that form. This form need not be completed now and is not required as a condition of receiving your Award. If you die without completing a Beneficiary Designation Form or if you do not complete that form properly, your Beneficiary will be your surviving spouse or, if you do not have a surviving spouse, your estate. Tax Withholding: Income taxes must be withheld when your Award is settled (see the Plan's prospectus for a discussion of the tax treatment of your Award). After the end of the Performance Period (and when the Company calculates the amount of your Award that has been earned), you will be contacted about how you want to meet this withholding obligation. You may meet this withholding obligation in one of several ways. They are: - The Company may withhold this amount from other amounts owed to you (e.g., from your salary or from the cash portion of your Award). - You may pay these taxes by giving the Company a check (payable to "The Ohio Casualty Insurance Company") in an amount equal to the taxes that must be withheld and that cannot be met through the cash portion of the Award. - By having the Company withhold a portion of the shares that otherwise would be distributed. The number of shares withheld will have a fair market value equal to the taxes that must be withheld. - You may give the Company other shares of Company stock (that you have owned for at least six months) with a value equal to the taxes that must be withheld. You may choose the approach you prefer. However, the Company may reject your preferred method for any reason (or for no reason). If you do not choose a method of meeting your withholding obligation (or if the Company rejects your preferred method of meeting this obligation), the taxes due will be withheld from cash otherwise due to you, including the cash portion of your Award, or, if sufficient cash is not due when these taxes must be paid, the Company will withhold a number of shares with a fair market value equal to the additional amount that must be withheld.
Beneficiary designation means the designation
Beneficiary designation means the written agreement, in the form attached hereto as Annex II, by which the Participant names his or her Beneficiary.