Withdrawal Payment definition
Examples of Withdrawal Payment in a sentence
The System Parent may accept the Withdrawal Notice as presented or object to the Withdrawal Notice’s calculation of the Withdrawal Payment by providing a written notice of proposed adjustment to the Withdrawal Payment.
The System Parent shall have the right to review a Withdrawal Notice and the proposed Withdrawal Payment during the sixty (60) day period after the System Parent’s receipt of the Withdrawal Notice.
Any disagreement about the amount of the Withdrawal Payment shall be submitted first to mediation and then to binding arbitration under the arbitration rules of the American Health Lawyers Association.
Total or Partial Distributions Total and partial distributions of amounts in the Systematic Withdrawal Payment Option shall be available to Acountholders under the same principles as distributions are available under Section 9 of this Group Annuity Contract.
On the first day of January of each year, all amounts remaining in the Systematic Withdrawal Payment Option related to applications or transfers from another company made prior to the preceding January 1, shall no longer earn the New Money Yield.
If the effective date of ▇▇▇▇ Participant’s Withdrawal is prior to the expiration of the Initial Term plus four years, SPP will invoice ▇▇▇▇ Participant for the Withdrawal Payment within thirty (30) days of the effective date of the Withdrawal.
The unpaid balance of the Withdrawal Payment from time to time outstanding shall bear interest at the Pre-Determined Rate from and after the Effective Date until the principal of the Withdrawal Amount has been paid or made available for payment.
Any Withdrawal Payment received by SPP will be applied as a reduction to the Implementation Costs Remaining as defined in Exhibit A.
This free amount is equal to twenty percent (20%) of the amount in the Accountholder's Systematic Withdrawal Payment Option as of December 31 of the preceding calendar year, except in the first year.
Any Withdrawal Payment received by SPP, including any Withdrawal Payment received pursuant to Section 16.3, will be applied as a reduction to the IC-REM as defined in Exhibit A.