lump sum death benefit definition

lump sum death benefit means a lump sum paid under Part 8 on the death of a member;

lump sum death benefit means any lump sum payable under the Plan(s) by reason of the Settlor’s death (but excludes any lump sum which under the terms of the Plan(s) must be paid otherwise than to the Trust.

lump sum death benefit means a lump sum which will become payable in the event of a person's death while paying contributions to provide for it;

Examples of lump sum death benefit in a sentence

• Subject to Section 5.7, a Director may also elect to receive the Lump Sum Death Benefit and the Lump Sum Retirement Benefit in a single lump sum payable on or about May 1, 2000, so long as prior to May 1, 1999, the Director makes an irrevocable written election to receive the lump sum payment.

• The Lump Sum Retirement Benefit and the Lump Sum Death Benefit for each Director shall be credited to that Director’s Account as of May 1, 1999.

• The Death Benefits payable pursuant to Section 7.2(a) shall be paid, with respect to the Lump Sum Death Benefit, or shall commence, with respect to the Monthly Death Benefit and the Dependent Death Benefit, as of the first day of the month next following the Participant’s death.

• Subject to the provisions of Section 3.1 above, the Director’s investment selections for deferred Director’s Fees shall be the investment selection for a Director’s Lump Sum Retirement Benefit and Lump Sum Death Benefit and as of the last day of each month, a Director’s Account shall be credited to reflect investment earnings (or loss) for the month, based on the Director’s investment selections under Section 4.2. 6.2 Payment of Lump Sum Benefits.

• The Lump Sum Retirement Benefit and the Lump Sum Death Benefit shall be distributed as part of a Director’s Deferred Compensation in accordance with Article V.

More Definitions of lump sum death benefit

lump sum death benefit means a lump sum paid under Chapter 4 of Part 8 (payment of lump sum death benefits) on the death of a member;

lump sum death benefit means Six Hundred Forty Thousand Dollars ($640,000), less the amount of any payments under Paragraphs 2, 3 and 4 actually made to Employee and his provisional payee.

lump sum death benefit means the Present Value of the Employee Replacement Benefit under Paragraph 4, plus any payments under Paragraph 5 herein less the amount of the Employee Replacement Benefit and any payments under Paragraph 5 actually paid to Employee and his provisional payee. For purposes of the preceding sentence, the "Present Value" of the Employee Replacement Benefit, plus any payments under Paragraph 5, shall be calculated using seven and one-half percexx (0 0/0%) xxxxxxxx and the 1983 Group Annuity Mortality Table with male and female rates averaged determined as of the Employee's Termination Date.

lump sum death benefit means any lump sum payable under the account by reason of the settlor’s death (but excludes any lump sum which, under the terms of the account must be paid, other than to the trust).

lump sum death benefit means a monetary amount set by the Board of Trustees of the Arkansas Teacher Retirement System (Board), and paid by ATRS to one (1) or more lump-sum death beneficiaries as provided for under Arkansas Code § 24-7-720; and

lump sum death benefit means the amount payable on the Member’s death at the multiple of the Member’s Final Average Pay chosen by the Designated Employer under Clause 3D (Defined Benefit Arrangement).

lump sum death benefit means a monetary amount set by the Board, and paid by ATRS to lump-sum death beneficiaries as provided for under A.C.A. § 24-7-720.