Examples of Preretirement Spouse in a sentence
For purposes of clarity, such Surviving Spouse shall not be eligible to receive an annuity in the form of the Preretirement Spouse Benefit under the principles of Section X.9 of the GE Pension Plan;(b)with respect to any post-retirement death benefit attributable to Non-Grandfathered Plan Benefits under the principles of Section X.11 of the GE Pension Plan (Five Year Certain (No Survivor Benefit)), the calculation of the lump sum shall be determined without making any discount to present value.
These properties would be obtained on a freehold basis and the mix is as follows: 2 one-bedroom flats, 4 two-bedroom flats, 2 two-bedroom houses, 2 three-bedroom houses and 1 four-bedroom house.
The initial monthly payment under the Preretirement Spouse Option will be equal to the Actuarial Equivalent of the amount payable under the Life Annuity form.
DeathStandard survivor benefit under the PlanIn the event of your death, your beneficiary will receive a Qualified Pre-retirement Spouse Annuity if you are married (50% Spouse Annuity) or a 10-Year Certain and Life Annuity if you are unmarried.
With respect to a Preretirement Spouse Benefit payable to the Spouse of an active Eligible Employee, the annual benefit will be equal to forty- five percent (45%) of the Participant’s Accrued Benefit determined in accordance with Section 5.1 had his date of death been his Normal Retirement Date, assuming that his Benefit Accrual Service continued until his Normal Retirement Date and that his Compensation remained the same.
For a Participant who meets the eligibility requirements set forth in 7.1(a)(ii)(A) or (B), but not 7.1(a)(i) and who has Dependent Children, such Participant shall be eligible to have the Preretirement Spouse Benefit equal to 45% of the Participant’s Accrued Benefit as described in Section 7.1(b)(i) become payable to the Dependent Children commencing upon Participant’s death, payable as described above.
If a Public Safety Participant dies before his or her Retirement Date or Normal Retirement Date, whichever is earlier, and is married as of the date of death, the Public Safety Participant’s Spouse will be eligible to receive retirement income if the Preretirement Spouse Benefit described in Section 8.1 is in effect.
The Preretirement Spouse Benefit will be payable on a monthly basis and each payment will be equal to 1/12th of the annual benefit determined pursuant to Section 8.1(B).
If a Spouse was eligible for benefits in accordance with Section 7.1(b)(i), the Preretirement Spouse Benefit will be payable monthly with each payment equal to one-twelfth (1/12) of the yearly amount.
If a Participant dies before his Benefit Commencement Date or Normal Retirement Date, whichever is earlier, his Spouse will be eligible to receive a Preretirement Spouse Benefit in accordance with the terms of Section 7.1 if the Participant is eligible for coverage under the Preretirement Spouse Benefit.