AMOUNT OF ANNUITY BENEFITS. If you elect pursuant to Section 8.01 to have an Annuity Benefit paid in lieu of the Cash Value, then the amount applied to provide the Annuity Benefit will, unless otherwise stated in the Data Pages or required by applicable laws or regulations, be (i) the Annuity Account Value if the annuity form elected provides payments for a person’s remaining lifetime or (ii) the Cash Value if the annuity form elected does not provide such lifetime payments. The amount applied to provide an Annuity Benefit may be reduced by a charge for any taxes which apply on annuity purchase payments. If we have previously deducted charges for taxes from Contributions, we will not again deduct charges for the same taxes before an Annuity Benefit is provided. The balance will be used to purchase the Annuity Benefit on the basis of either (i) the Tables of Guaranteed Annuity Payments shown in the Data Pages or (ii) our then current individual annuity rates, whichever rates would provide a larger benefit with respect to the payee.
AMOUNT OF ANNUITY BENEFITS. If you elect, pursuant to the first or third paragraph of Section 3.03, to receive an Annuity Benefit in lieu of the Cash Value, the amount applied to provide the Annuity Benefit will be (i) the Annuity Account Value if the annuity form elected involves life contingencies or (ii) the Cash Value if the payments under the annuity form elected does not involve life contingencies. The amount applied to provide an Annuity Benefit may be reduced by any applicable tax charge on annuity considerations, as we determine. If we have previously deducted any applicable tax charges from Contributions as provided in Section 2.01, we will not again deduct charges for the same taxes before application to provide an Annuity Benefit, unless a change in applicable law has occurred with respect to your Contract. The balance shall purchase the Annuity Benefit on the basis of either (i) the Table of Guaranteed Annuity Payments shown below or (ii) our current individual annuity rates for payment of proceeds, whichever rates would provide a larger benefit with respect to the payee. Regardless of the basis used, your Contract will be governed by our supplementary contract then in effect. The amount to be applied to provide an Annuity Benefit will, in addition to any tax charge reduction, be reduced by an administrative charge. The amount of such charge will be determined from time to time in accordance with our general practices applicable on a uniform basis to all contracts of the same type as this Contract. After the application of an amount to provide an Annuity Benefit, the amounts you have in the Divisions and the Annuity Account Value shall be zero. The Tables of Guaranteed Annuity Payments set forth the minimum amount of monthly income that $1,000 of Annuity Value will provide under the terms of this Contract, as indicated, on either the Life Annuity Form or the Joint and Survivor Life Annuity Form (with 100% of the amount of your payment continued to your spouse). The amounts of income provided under the Fixed Annuity Benefit payable on the Life Annuity Form and Joint and Survivor Life Annuity Form, are based on 3.5% interest and the 1983 Individual Annuity Mortality Table "a" adjusted to a unisex basis based on a 50-50 split of males and females. The amounts of income initially provided under the Variable Annuity Benefit payable on the Life Annuity Form are based on a 50-50 split of males and females and an Assumed Base Rate of Net Investment Return of 3.5% or 5%,whichever...
AMOUNT OF ANNUITY BENEFITS. If you elect pursuant to the Section “Election of Annuity Benefits” to have an Annuity Benefit paid in lieu of the Cash Value, then the amount applied to provide the Annuity Benefit will, unless otherwise stated in the Data Pages or required by applicable laws or regulations, be (i) the Annuity Account Value if the annuity form elected provides payments for a person’s remaining lifetime or (ii) the Cash Value if the annuity form elected does not provide such lifetime payments. The amount applied to provide an Annuity Benefit may be reduced by a charge for any taxes which apply on annuity purchase payments. If we have previously deducted charges for taxes from Contributions, we will not again deduct charges for the same taxes before an Annuity Benefit is provided. The balance will be used to purchase the Annuity Benefit on the basis of either (i) the Table of Guaranteed Annuity Payments included in Appendix B of this Contract, or (ii) our then current individual annuity rates, whichever rates would provide a larger benefit with respect to the payee. The Annuity Benefit at the time of commencement will not be less than that which would be provided by the application of an amount to purchase any single consideration immediate annuity contract of the same form of annuity offered by us at the time to the same class of annuitants. The amount applied to provide a life contingent annuity payout option will be the Annuity Account Value.
AMOUNT OF ANNUITY BENEFITS. If the Annuitant elects an Annuity Benefit, the Amount Applied will be applied as of the Annuitant's Retirement Date to provide the Annuity Benefit. The Amount Applied shall provide the Annuity Benefit on the basis of the Table of Guaranteed Annuity Payments shown in Section 4.06. The amount of income provided under an Annuity Benefit payable on the Life Annuity Form with Ten Years Certain is based on 2.5% interest and the 1983 Individual Annuity Mortality Table "a" projected with modified Scale "G". If a variable annuity form is available from us and elected, then the amounts required will be calculated by us based on the 1983 Individual Annuity Mortality Table "a" projected with a modified Scale "G" and a modified two year age setback and on an Assumed Base Rate of Net Investment Return of 3.5% or 5.0%, whichever will apply, as we will inform you.
AMOUNT OF ANNUITY BENEFITS. If the tax is imposed at a time other than when amounts are applied to an Annuity Benefit, Equitable reserves the right to deduct the charge from Contributions in Part III "Contributions, and Allocations" or withdrawals in Section 5.01A "Withdrawals" and Section 5.04 "Discontinuance of Contributions".
AMOUNT OF ANNUITY BENEFITS. If you elect pursuant to Section 8.01 to have an Annuity Benefit paid in lieu of the Cash Value, the amount applied to provide the Annuity Benefit will, unless otherwise stated in the Data Pages or required by applicable laws or regulations, be (i) the Annuity Account Value if the annuity form elected provides payments for a person's remaining lifetime or (ii) the Cash Value if the annuity form elected does not provide such lifetime payments. The amount applied to provide an Annuity Benefit may be reduced by a charge for any taxes which apply on annuity purchase payments. The balance will be used to purchase the Annuity Benefit on the basis of either (i) the Tables of Guaranteed Annuity Payments or (ii) our then current individual annuity rates, whichever rates would provide a larger benefit with respect to the payee.
AMOUNT OF ANNUITY BENEFITS. If a Participant elects to receive an Annuity Benefit in lieu of the Participant's Account Balance, the amount applied to provide the Annuity Benefit will be the Participant's Account Balance on the date of application. The date of application of the Participant's Account Balance will be the Participant's Retirement Date. The amount applied to provide an Annuity Benefit shall be reduced by any applicable State Premium Tax as determined by Equitable. The balance shall purchase the Annuity Benefit on the basis of either (i) the Table of Guaranteed Annuity Payments shown in Section 4.05, or (ii) Equitable's current group annuity rates for payment of proceeds, whichever rates would provide a larger benefit with respect to the payee. If such current group annuity rates are used, such Participant's certificate will be replaced by an Equitable supplemental certificate. After the application of an amount to provide an Annuity Benefit pursuant to the preceding paragraph, the Account maintained for such Participant shall terminate. The Tables of Guaranteed Annuity Payments set forth the minimum amount of monthly income that $1,000 of Participant's Account Balance will provide under the Contract on the Full Cash Refund Annuity Form. Equitable may change, by an amendment to the Contract, the monthly income amounts contained in the Tables of Guaranteed Annuity Payments and the basis for determining such amounts, (i) for new Participants, upon advance notice to the Contract Holder, and (ii) for existing Participants, on the fifth anniversary of the Enrollment Date and at any time thereafter, provided that any changes after the first will be made at intervals of not less than five years.
AMOUNT OF ANNUITY BENEFITS. If the Employer or Participant elects to have an Annuity Benefit paid in lieu of the Cash Value, the amount applied to provide the Annuity Benefit will, unless otherwise specified by the Employer or required by applicable laws and regulations, be (1) the Annuity Account Value, if the annuity form elected provides payments for a person's remaining lifetime or (2) the Cash Value, if the annuity form elected does not provide such lifetime payments. The amount applied to provide an Annuity Benefit may be reduced by a charge for any taxes, as described under Section 9.08 "Applicable Tax Charges", that apply on annuity purchase payments. If Equitable has previously deducted charges for applicable taxes from Contributions, Equitable will not again deduct charges for the same taxes before an Annuity Benefit is provided. The balance will be used to purchase the Annuity Benefit on the basis of either (1) the Tables of Guaranteed Annuity Payments or (2) Equitable's then current individual annuity rates, whichever rates would provide a larger benefit with respect to the payee, or (3) any Equitable single consideration immediate annuity contract offered at the time to the same class of Participants.
AMOUNT OF ANNUITY BENEFITS. The second paragraph of the existing section is deleted and replaced with the following: We reserve the right to deduct from the amount applied to provide an Annuity Benefit a charge that we determine which is designed to approximate certain taxes that may be imposed on us, including but not limited to premium taxes which may apply in your state. If the tax to which this charge relates is imposed on us at a time other than when amounts are applied to an Annuity Benefit, we reserve the right to deduct this charge for taxes from Contributions in the section of the Contract titled "Contributions and Allocations" or from amounts described in the section of the Contract titled "Withdrawals and Termination", as applicable. The balance will be used to purchase the Annuity Benefit on the basis of either (i) the Tables of Guaranteed Annuity Payments or (ii) our then current individual annuity rates, whichever rates would provide a larger benefit with respect to the payee.
AMOUNT OF ANNUITY BENEFITS. If the Participant elects an Annuity Benefit, the Amount Applied will be applied as of the Participant's Retirement Date to provide the Annuity Benefit.
