Spouse’s Annuity definition

Spouse’s Annuity means a single life annuity, based on the applicable portion of a Prior GTE Plan Member’s accounts under the Plan, providing equal monthly payments solely for the life of the surviving Spouse.
Sample 1

Examples of Spouse’s Annuity in a sentence

  • In the event of the death of Executive on or after the date benefits under Section 2 commence, the Company shall pay to Executive’s beneficiary or beneficiaries the death benefit (including Spouse’s Annuity), if any, provided under the form of payment pursuant to which Executive was receiving benefits pursuant to Section 5, commencing on the first day of the month following the month in which Executive dies.

  • Subject to the lump sum payment provisions of Section 6.7, the benefit shall be payable for the life of the Spouse beginning on the Spouse’s Annuity Starting Date under Section 1.6.3.

  • If on the date such benefits commence Executive is married, such benefits shall be paid in the Spouse’s Annuity Form described in Article VII of the Retirement Plan.

  • PRIOR GTE PLAN (2) If a Prior GTE Plan Member who is described in paragraph (1), above, dies before his Benefit Commencement Date and is married on his date of death, his surviving Spouse shall be entitled to receive a Spouse’s Annuity, based on the Prior GTE Plan Member’s Transfer Account, commencing on (A) the first day of the month following the month in which he dies, or (B) if the surviving Spouse so elects, the first day of any subsequent month.

  • The Survivor’s Benefit shall be the benefit the Spouse would have received if the Participant (1) had separated from service on the date of his death, (2) had survived to the Benefit Commencement Date determined under paragraph (a) above, (3) had then begun to receive an immediate FAC Pension in the form of a Joint and 75% Surviving Spouse’s Annuity and (4) died on the following day.

  • A Pre-Retirement Surviving Spouse’s Annuity shall be payable to the Surviving Spouse on the first day of the month next following the later of the death of the Participant or the date the Participant would have first attained his Early Retirement Date.

  • Notwithstanding the preceding sentence, a Prior GTE Plan Member’s surviving Spouse shall not be entitled to a Spouse’s Annuity if the Prior GTE Plan Member has waived the Spouse’s Annuity as provided in paragraph (4), below.

  • However, in lieu of the Automatic Joint and Survivor Annuity referred to in the preceding sentence, the 80/80 Spouse’s Annuity Option described in Section 4.07(b)(ii) or the Contingent Annuity Option described in Section 4.07(b)(iii) if the Member’s Spouse is the named contingent annuitant shall be used to compute the amount payable to the Spouse if, within the 90-day period prior to his Annuity Starting Date, the Member had elected such optional form of payment.

  • The Plan shall fully subsidize the cost of the Pre-Retirement Surviving Spouse’s Annuity.

  • PRIOR GTE PLAN (e) The annuities available under this Section shall be single-premium annuities purchased by the Trustee from an insurance company licensed to do business in the United States with the appropriate portion of the Prior GTE Plan Member’s accounts under the Plan determined as of the Prior GTE Plan Member’s Benefit Commencement Date, date of death, or the date as of which a surviving Spouse elects to receive the Spouse’s Annuity, whichever is applicable.

Related to Spouse’s Annuity

  • life annuity means an annuity payable under a policy issued to an SRS member for a term ending with, or at a time ascertainable only by reference to, the end of his life;

  • Qualified Preretirement Survivor Annuity means an annuity which is payable for the life of the Participant's surviving spouse.

  • Annuity means a stated sum payable periodically at stated times during life or during a specified or ascertainable period of time under an obligation to make the payments in return for adequate and full consideration in money or money's worth.

  • Joint and Survivor Annuity means an immediate annuity for the life of a Participant with a survivor annuity for the life of the Participant's Spouse which is not less than fifty percent (50%), nor more than one hundred percent (100%) of the amount of the annuity payable during the joint lives of the Participant and the Participant's Spouse which can be purchased with the Participant's Vested interest in the Plan reduced by any outstanding loan balances pursuant to Section 7.4.

  • Death Benefit means the insurance amount payable under the Certificate at death of the Insured, subject to all Certificate provisions dealing with changes in the amount of insurance and reductions or termination for age or retirement. It does not include any amount that is only payable in the event of Accidental Death.

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

  • Single Life Annuity means a Participant’s Grandfathered Benefit and/or 409A Benefit, as applicable, payable as an annuity in equal monthly installments over the life of the Participant, commencing as of the Payment Date and terminating in the month in which the Participant dies, with no further payments thereafter.

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

  • Qualified Joint and Survivor Annuity means an immediate annuity for the life of the Participant with a survivor annuity for the life of the Spouse which is fifty percent (50%) of the amount of the annuity which is payable during the joint lives of the Participant and the Spouse and which is the amount of benefit which can be purchased with the Participant's Vested Account Balance.

  • 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.

  • Plan Benefit means the benefit payable to a Participant as calculated in Article V.

  • Net death benefit means the amount of the life insurance policy or certificate to be settled less any outstanding debts or liens.

  • 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.

  • Supplemental Benefit means the monthly benefit payable to the Executive under this Agreement.

  • Early Retirement Benefit means the retirement benefit payable to a member following early

  • Supplemental Retirement Benefit means the benefit determined under Article V of this Plan.

  • Retirement Benefit means the benefit set forth in Article 5.

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

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

  • Disability Benefit means the benefit set forth in Article 8.

  • Normal Retirement Benefit means an annual benefit payment in the amount of Sixty-Six Thousand Three Hundred and Seventy-Three Dollars ($66,373.00) for a period of fifteen (15) years.

  • Spouse means, an individual who,

  • Qualified Participant means a Participant who has attained age 55 and who has completed at least 10 years of participation in the Plan.

  • ANNUITY DATE The date on which Annuity Payments begin. The Annuity Date is shown on the Contract Schedule. ANNUITY OPTIONS: Options available for Annuity Payments.

  • Annuity Starting Date means, with respect to any Participant, the first day of the first period for which an amount is paid as an annuity, or, in the case of a benefit not payable in the form of an annuity, the first day on which all events have occurred which entitles the Participant to such benefit.