Five-Year Certain and Life Annuity definition
Five-Year Certain and Life Annuity means a monthly retirement benefit payable to the Participant for life, and if the Participant dies before receiving 60 monthly payments, such payments shall continue to the Beneficiary until a total of 60 payments have been made.
Five-Year Certain and Life Annuity means a reduced monthly benefit payable to a Participant for his lifetime, with a guarantee of 60 payments. If the Participant dies after the Annuity Starting Date but before receiving 60 monthly payments, the monthly payments shall be paid to the Participant’s Beneficiary, until the Participant and his Beneficiary have received a total of 60 monthly payments.
Five-Year Certain and Life Annuity means a monthly retirement benefit payable to the Participant for life, and if the Participant dies before receiving 60