Joint and 50% Surviving Spouse Annuity definition

Joint and 50% Surviving Spouse Annuity means an immediate annuity for the life of the Participant with a survivor annuity for the life of the Participant’s Spouse equal to 50% of the amount payable for the life of the Participant.
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Examples of Joint and 50% Surviving Spouse Annuity in a sentence

  • This surveillance should be achieved through review of relevant clinical cases at ward level and review of relevant microbiological / histological specimens at laboratory level.

  • Joint and Surviving Spouse Annuity -- Married participants can modify the regular Joint and 50% Surviving Spouse Annuity described above to increase the percentage of their pension which will be paid to their spouses (if they survive the participant) to 66 2/3%, 75% or 100% of the amount the participant receives.

  • If you are married when your pension starts, it will be paid as a Joint and 50% Surviving Spouse Annuity unless you elect an optional form of payment (see Section 14).

  • If a Participant is married on his or her Retirement Date, and shall not have elected a different form of payment pursuant to 4.4, such Retired Participant's Vested Accrued Benefit shall be paid on the Joint and 50% Surviving Spouse Annuity Form, which shall be the Actuarial Equivalent of the Normal Form.

  • If, on his or her Retirement Date, such Participant is married to a Spouse other than the individual who consented to the election of the Normal Annuity form, then benefits will be paid to such Participant in the Joint and 50% Surviving Spouse Annuity Form.

  • Under the Joint and 50% Surviving Spouse Annuity you receive monthly pension payments for your life.

  • The death benefit provides monthly payments equal to the reduced benefit your spouse would have received under the survivor’s portion of the Joint and 50% Surviving Spouse Annuity in Section 13.

  • The amount of your pension under the Joint and 50% Surviving Spouse Annuity is reduced because of the value of the surviving spouse benefit.

  • Annual Report and Accounts 2019Clontarf Energy Plc Directors’ Responsibility Statementfor the year ended 31 December 2019 The directors are responsible for preparing the Annual Report and the financial statements in accordance with applicable law and regulations.Company law requires the directors to prepare financial statements for each financial year.

  • Where, pursuant to 4.7 or 4.8, the Defined Retirement Benefit is paid in the Joint and 50% Surviving Spouse Annuity Form or the Joint and 66-2/3% Surviving Spouse Annuity Form, the amount of benefit payable under either such Form shall be the Actuarial Equivalent of the Normal Annuity Form.

Related to Joint and 50% Surviving Spouse Annuity

  • 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.

  • Joint Annuitant means the individual specified as such in the Data Pages. The Joint Annuitant must be the spouse of the Annuitant on the Contract Date.

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

  • Qualified Joint and Survivor Annuity means an immediate annuity for the life of a Participant, with a survivor annuity for the life of the spouse which is not less than 50% and not more than 100% 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 that can be purchased with the Participant's Vested Account Balance. The percentage of the survivor annuity under the Plan shall be 50%.

  • 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;

  • Single Life Annuity means an annuity payable for the life of a Participant.

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

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

  • 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.

  • Annuity Benefit means a benefit payable by us as described in Part VII.

  • 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.

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

  • Supplemental Retirement Benefit means the benefit determined under Article V of this Plan.

  • retirement annuity contract means a contract or scheme approved under Chapter III of Part XIV of the Income and Corporation Taxes Act 1988;

  • Eligible Spouse means a spouse of an Eligible Retiree who satisfies the requirements for eligibility described in the Eligibility section of this document, or an ex-spouse who is an Eligible Spouse with rights to coverage as an Eligible Spouse pursuant to a court order recognized by SHARP. A Spouse must be married to retiree at least one year prior to the effective date of retirement. A Spouse married after the retiree’s effective retirement date is considered a non-eligible spouse for purposes of the Plan. [See “Spouse”]

  • Contingent Beneficiary is the person that becomes the Beneficiary if the named Beneficiary dies prior to the Income Date.

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

  • Income beneficiary means a person to whom net income of a trust is or may be payable.

  • Designated Beneficiary means the beneficiary or beneficiaries the Participant designates, in a manner the Administrator determines, to receive amounts due or exercise the Participant’s rights if the Participant dies or becomes incapacitated. Without a Participant’s effective designation, “Designated Beneficiary” will mean the Participant’s estate.

  • Qualified beneficiary means a beneficiary who, on the date the beneficiary's qualification is determined:

  • Retirement Benefit means the benefit set forth in Article 5.

  • Accrued Benefit means the amount standing in a Participant's Account(s) as of any date derived from both Employer contributions and Employee contributions, if any.

  • 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.

  • Former Spouse means the individual who is considered by Applicable Laws to be the Annuitant’s former spouse or common-law partner;

  • Normal Retirement Benefit means the benefit described in Section 2.1.

  • Annuitant means a person who receives a retirement allowance or a disability allowance;