Benefit Starting Date definition
Examples of Benefit Starting Date in a sentence
Unless the Executive (who also must be a participant in the Supplemental Pension Plan) elects a form of annuity set forth on Annex A attached to the Supplemental Pension Plan prior to his or her Pension Benefit Starting Date, Executive, if unmarried, shall receive a life annuity with guaranteed payment for 24 months, or, if married, a 50% joint and survivor annuity.
Generally, the Benefit Starting Date is the date on which distribution is due when all conditions and requirements for distribution have been met.
Not earlier than 90 days before the Participant's Benefit Starting Date, the Committee shall provide a benefit notice to a Participant who is eligible to make an election or required to consent under this article.
No distribution can be made from the Plan, after the Benefit Starting Date, without the written consent of the Participant, except that the Plan will make an immediate lump-sum distribution to a Participant, if the value of the Participant’s Account is not more than $1,000.
An election of distribution shall be made within the 90-day period ending on the Benefit Starting Date.