Pre-Retirement Survivor Benefit definition
Examples of Pre-Retirement Survivor Benefit in a sentence
If the Executive makes such election, the benefit payable to the Executive under Article II hereof shall be reduced to reflect the actuarial equivalence of the additional Pre-Retirement Survivor Benefit so elected by the Executive.
In lieu of a lump sum, the Executive may elect for his designated beneficiary to receive the benefit described in Section 3.2(a) in the form of the Pre-Retirement Survivor Benefit.
The Executive’s election pursuant to this Section 3.2(b) as to the applicable percentage amount of the Pre-Retirement Survivor Benefit (including any change thereto or revocation thereof) shall be made on or prior to the first day in which he begins to accrue any benefits under this Agreement or otherwise shall not take effect until twelve months after the date on which it is made.
The Pre-Retirement Survivor Benefit shall be paid to the Executive’s Beneficiary in a single sum on the first day of the month following the Executive’s date of death.
The Executive’s election pursuant to this Section 3.2.2 as to the applicable percentage amount of the Pre-Retirement Survivor Benefit (including any change thereto or revocation thereof) shall be made in accordance with the transitional election rules stated in Section 2.2.9 or otherwise shall not take effect until twelve months after the date on which it is made.