Single Lump Sum definition

Single Lump Sum means the distribution of a Participant's total Pension Benefit in an Actuarial Equivalent present value form of a single payment.
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Examples of Single Lump Sum in a sentence

  • I hereby elect that any distribution of the balance of the Deferral Account established pursuant to this Agreement made on account of Termination of Employment be paid as follows: (Select one) • Single Lump Sum Payment • Three Annual Installments • Five Annual Installments • Ten Annual Installments I understand that Plan distributions made for reasons other than Termination of Employment will be made in a single lump sum payment, unless the Plan provides otherwise.

  • All Final Design Services shall be paid for in a Single Lump Sum.

  • All Preliminary Design Services shall be paid for in a Single Lump Sum.

  • Prior to the Participant’s attainment of age 55, the only form of benefit is a Single Lump Sum Distribution.

  • I hereby elect that any distribution of the balance of the Deferral Account established pursuant to this Agreement made on account of Termination of Employment or expiration of a Fixed Deferral Period be paid as follows: (Select one) Single Lump Sum Payment Three Annual Installments I understand that Plan distributions made for reasons other than Termination of Employment or expiration of a Fixed Deferral Period will be made in a single lump sum payment, unless the Plan provides otherwise.

  • The Actuarial Equivalent Single Lump Sum shall be determined and paid as soon as administratively feasible following the Termination Date, and no further benefits will be provided under this Agreement.

  • I hereby elect that any distribution of the balance of the Deferral Account established pursuant to this Agreement made on account of Termination of Employment or expiration of a Fixed Deferral Period be paid as follows: (Select one) Single Lump Sum payment Three Annual Installments I understand that Plan distributions made for reasons other than Termination of Employment or expiration of a Fixed Deferral Period will be made in a single lump sum payment, unless the Plan provides otherwise.

  • I hereby elect that any distribution of the balance of the Deferral Account established pursuant to this Agreement made on account of Termination of Employment be paid as follows: (Select one) ¨ Single Lump Sum Payment ¨ Three Annual Installments ¨ Five Annual Installments ¨ Ten Annual Installments I understand that Plan distributions made on account for reasons other than Termination of Employment will be made in a single lump sum payment, unless the Plan provides otherwise.

  • The "Actuarially Equivalent Single Lump Sum" shall be determined (i) as the actuarial equivalent of a single life annuity equal to the Retirement Benefit, assuming payments would commence on the first day of the month immediately following the later of the Executive's sixtieth birthday or the Executive's Termination Date and would be payable for the Executive's life.

  • Following the attainment of age 55, a Participant may elect to have benefits paid in a Single Lump Sum, or equal annual installments not to exceed five years.

Related to Single Lump Sum

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

  • Lump Sum means the total sum which will have become payable to the Contractor by the Principal upon completion of the Works.

  • Single coat means one film coating applied to a metal surface.

  • Generator to Load Distribution Factor or “GLDF” shall mean a generator’s impact on a Flowgate while serving load in that generator’s Balancing Authority Area.

  • Defined Contribution Fraction means a fraction, the numerator of which is the sum of the Annual Additions to the Participant's Account under all the defined contribution plans (whether or not terminated) maintained by the Employer for the current and all prior Limitation Years (including the Annual Additions attributable to the Participant's nondeductible Voluntary Contributions to all defined benefit plans, whether or not terminated, maintained by the Employer and the Annual Additions attributable to all welfare benefit funds, as defined in section 419(e) of the Code, and individual medical benefit accounts as defined in section 415(l)(2) of the Code, and simplified employee pensions, maintained by the Employer) and the denominator of which is the sum of the Maximum Aggregate Amounts for the current and all prior Limitation Years of Service with the Employer (regardless of whether a defined contribution plan was maintained by the Employer). The Maximum Aggregate Amount in any Limitation Year is the lesser of one hundred twenty-five percent (125%) of the dollar limitation in effect under section 415(c)(1)(A) of the Code or thirty-five percent (35%) of the Participant's Compensation for such year. If the Employee was a Participant as of the end of the first day of the first Limitation Year beginning after December 31, 1986, in one or more defined contribution plans maintained by the Employer which were in existence on May 6, 1986, the numerator of this fraction will be adjusted if the sum of this fraction and the Defined Benefit Fraction would otherwise exceed one (1.0) under the terms of this Plan. Under the adjustment, an amount equal to the product of (A) the excess of the sum of the fractions over one (1.0) times (B) the denominator of this fraction, will be permanently subtracted from the numerator of this fraction. The adjustment is calculated as of the end of the last Limitation Year beginning before January 1, 1987, and disregarding any changes in the terms and conditions of the Plan made after May 5, 1986, but using the section 415 limitation applicable to the first Limitation Year beginning on or after January 1, 1987. The Annual Additions for any Limitation Year beginning before January 1, 1987 shall not be recomputed to treat all Employee contributions as Annual Additions.