Named Beneficiary definition

Named Beneficiary means the person designated by a Member to receive a return of Accumulated Contributions or a Pension following the Member's death, pursuant to Article V or VI. The designation of Named Beneficiary shall be made in accordance with uniform and nondiscriminatory regulations adopted by the Trustees, and shall be effective upon receipt by the System.
Sample 1Sample 2Sample 3
Named Beneficiary means the beneficiary or beneficiaries specifically named and identified on the Employee’s group life insurance policies with . In the event of multiple life insurance policies, the beneficiary designation(s) on the policy with the greatest dollar value will govern.
Sample 1Sample 2Sample 3
Named Beneficiary or “Designated Beneficiary” or “Beneficiary” shall mean any person or trust, or combination, as last designated by the Participant during his lifetime upon a “Beneficiary Designation Form”, provided by the Employer and filed with the Employer as may be required, who is specifically named to be a direct or contingent recipient of all or a portion of the Participant’s Benefits under the Plan in the event of the Participant’s Death. Such designation shall be revocable by the Participant at any time during his lifetime without the consent of any Beneficiary, whether living or born hereafter. Unless expressly provided by law, the Named Beneficiary may not be designated or revoked and changed by the participant in any other way. No Beneficiary designation or Beneficiary change shall be effective until received in writing and acknowledged by the Employer according to procedures and practices established by the Employer. Should the Participant fail to designate the Named Beneficiary, the Named Beneficiary shall be the Participant’s estate.
Sample 1

Examples of Named Beneficiary in a sentence

  • Subject and without prejudice to sub-clause (ii) above and to any exercise of the power conferred on them by Clause G(vii) the Trustees may (at their sole discretion and in such manner as they think fit) apply the whole or such part of parts of the income, whenever arising, to which a Named Beneficiary who is under the age of 18 years is entitled, for or towards his maintenance, education or benefit.

  • Notwithstanding that a Named Beneficiary is under the age of 18 years he is nevertheless absolutely entitled to any income produced by the capital of the Trust Fund to which he is entitled.

  • If there is more than one Named Beneficiary the Appropriate Shares of the Trust Fund to which they are entitled in default should also be inserted.

  • The Trustees may at any time or times advance to any Named Beneficiary any part or the whole of the capital of the Trust Fund to which that Named Beneficiary may be prospectively entitled.

  • These grant schemes are implemented through Calls for Proposals and/or Invitation Letters to Named Beneficiary in case of direct awards.The Calls for proposals are published on the Participant Portal.

  • The Club will allow the membership to be transferred to a named heir with payment of a $1,000 Transfer Fee per Named Beneficiary and execution of Club Membership Documents.

  • However, the prevalence of errors in making the correct diagnosis are worryingly high.

  • In all other cases, benefits shall not be payable under Article V, but the Named Beneficiary or the estate of the Member (if there is no surviving Named Beneficiary) shall be entitled, upon application, to a refund of the Accumulated Contributions.

  • If no Named Beneficiary survives the Member, benefits shall be paid as provided in Section 5.03.

  • If the Member died more than 90 days after terminating from employment with the Employer, but had reached Service Retirement Date, benefits shall be payable pursuant to Section 5.02(a)(1) to a Named Beneficiary who is eligible for benefits under that section, or to a surviving Spouse under the circumstances described in Section 5.03(a).


More Definitions of Named Beneficiary

Named Beneficiary at any time shall mean, pursuant to the election of an Optional Pension under 4.5, the person last designated by the Participant in writing to the Board to receive benefits payable under such election upon the death of the Participant or the Minimum Death Benefit, if any.
Sample 1
Named Beneficiary means a Beneficiary (as defined above in 1.4) which has been identified and selected by the Trustees in their discretion from time to time to receive grants, funding and other support from the Trust in accordance with the terms of this Deed and in furtherance of the Trust’s Objects.
Sample 1

Related to Named Beneficiary

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

  • 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.

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

  • primary beneficiary means the individual for whose primary benefit the trust is then held. For purposes of Section 8.3, a Qualified Entity is a member of each Family Group to which such one or more Qualified Trusts that are its equity holders belong.

  • Refund beneficiary means an individual nominated by a qualified participant or a former qualified participant under section 66 to receive a distribution of the participant's accumulated balance in the manner prescribed in section 67.

  • Qualified Beneficiaries has the meaning set forth in Section 4.12.

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

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

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

  • Successor of a beneficiary means a person who succeeds to substantially all of the rights of a beneficiary by operation of law, including a corporation with or into which the beneficiary has been merged or consolidated, an administrator, executor, personal representative, trustee in bankruptcy, debtor in possession, liquidator, and receiver.

  • Beneficiary means each designated person, or the estate of the deceased Executive, entitled to benefits, if any, upon the death of the Executive, determined according to Article 4.

  • Surviving beneficiary or "surviving descendant" means a beneficiary or a descendant who did not predecease the decedent and is not considered to have predeceased the decedent under section 2702.

  • Vested Benefits means amounts that are vested or that Executive is otherwise entitled to receive, without the performance by Executive of further services or the resolution of a contingency, under the terms of or in accordance with any investment and savings plan or retirement plan (including any plan providing retiree medical benefits) of the Company or its affiliates, and any ERPs or ESPs related thereto, and any deferred compensation or employee stock purchase plan or similar plan or program of the Company or its affiliates.

  • Spouse means, an individual who,

  • Beneficiary(ies means the beneficiary(ies) designated by the Participant who are entitled to receive any distributions from the Plan payable upon the death of the Participant.

  • Alternate Payee means any spouse, former spouse, child, or other dependent of a Participant who is recognized by a qualified domestic relations order as having a right to receive all, or a portion of, the benefits payable under a Plan with respect to such Participant.

  • land reform beneficiary , in relation to a property, means a person who -

  • Covered benefits or “benefits” means those health care services to which a covered person is entitled under the terms of a health benefit plan.

  • Financial Beneficiary means any Principal of the Developer or Applicant entity who receives or will receive any direct or indirect financial benefit from a Development, except as further described in Rule 67-21.0025, F.A.C.

  • Initial Beneficiary means ALF LLC, as initial beneficiary under the Titling Trust Agreement and its permitted successors and assigns.

  • 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.

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

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

  • Named Executive means any individual who, on the last day of the Company’s fiscal year, is the chief executive officer of the Company (or is acting in such capacity) or among the four most highly compensated officers of the Company (other than the chief executive officer). Such officer status shall be determined pursuant to the executive compensation disclosure rules under the Exchange Act.

  • Distributee means an Employee or former Employee. In addition, the Employee's or former Employee's surviving spouse and the Employee's spouse or former spouse who is the alternate payee under a Qualified Domestic Relations Order are considered Distributees with regard to the interest of the spouse or former spouse.

  • 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.