Examples of Grandfathered Retirement Fund Benefit in a sentence
If a Participant who had elected an optional form of payment under this Section 3.03(a) dies after the date the Participant Separates From Service, the only death benefit, if any, payable under the Plan in respect of said Participant and attributable to the Grandfathered Retirement Fund Benefit shall be the amount, if any, payable under the optional form of payment which the Participant had elected under the Plan.
If a Participant who had elected an optional form of payment under this Section 3.03(a) dies before the Participant Separates From Service, the Participant’s election of an optional form of Grandfathered Retirement Fund Benefit shall be inoperative and the death benefit described in Section 3.04(a)(i) shall be payable to the Participant’s Beneficiary.
If a Participant is restored to employment with the FHLBank after payment of his Grandfathered Retirement Fund Benefit has commenced, all payments of Grandfathered Retirement Fund Benefits shall thereupon be discontinued.
A Participant may, with the consent of the Committee, elect in writing to have the Grandfathered Retirement Fund Benefit, if any, payable to or on account of a Participant under Section 3.02 above converted by the Actuary to any optional form of payment permitted under the Retirement Fund on October 3, 2004.
An election of an optional form of payment under this Section 3.03(a) may be made only on a form and in the manner prescribed by the Committee, and must be made no later than the end of the calendar year immediately preceding the year in which the Participant Separates From Service, at least one hundred eighty (180) days prior to the date the Participant Separates From Service, and prior to the date when the payment of the Participant’s Grandfathered Retirement Fund Benefit are due to commence.
Unless the Participant elects an optional form of payment under the Plan pursuant to Section 3.03 below, the Grandfathered Retirement Fund Benefit and/or Non-Grandfathered Retirement Fund Benefit, as applicable, payable to or on account of a Participant under Section 3.01 above, shall be payable to or on account of the Participant in the “Regular Form” of payment, utilizing for that purpose the actuarial factors described in Section 3.03(b)(iv), below.
In the Participant’s subsequent Retirement or other termination of employment with the FHLBank, his Grandfathered Retirement Fund Benefit shall be recomputed in accordance with Sections 3.01 and 3.02 and shall be paid to such Participant in accordance with the provisions of the Plan.
In the Participant's subsequent Retirement or other termination of employment with the FHLBank, his Grandfathered Retirement Fund Benefit shall be recomputed in accordance with Sections 3.01 and 3.02 and shall be paid to such Participant in accordance with the provisions of the Plan.
Unless the Participant elects an optional form of payment under the Plan pursuant to Section 3.03 below, the Grandfathered Retirement Fund Benefit and/or Non-Grandfathered Retirement Fund Benefit, as applicable, payable to or on account of a Participant under Section 3.01 above, shall be payable to or on account of the Participant in the "Regular Form" of payment, utilizing for that purpose the actuarial factors described in Section 3.03(b)(iv), below.
The Beneficiary of any Participant first hired on or after January 1, 2006, shall be paid an active service death benefit equal to the Participant’s benefit calculated under Section 3.01(b), above.(ii) Payment of Grandfathered Retirement Fund Benefit Upon Death After Separation From Service.