Amount of Joint and Survivor Pension Sample Clauses

Amount of Joint and Survivor Pension. The amount of the joint and survivor pension payable to the eligible spouse must be equal to at least 60% of the amount that was payable to the contractholder prior to his death, taking into account any adjustments permitted under applicable pension legislation and including, where applicable, during the replacement period, the amount of any temporary pension. In Newfoundland and Labrador, Nova Scotia, New Brunswick, Ontario, Manitoba, Alberta, and British Columbia, the annuity to be provided to the contractholder with an eligible spouse at the date the pension commences is to be such joint life annuity under which the amount of annuity payable after the death of the eligible spouse is not less than 60% of the amount of annuity paid during their joint lives. Where permitted under applicable pension legislation, the eligible spouse may receive a joint and survivor pension of less than 60%; however this is only permitted if the required waiver is signed and delivered to SSQ in accordance with applicable pension legislation. In Manitoba, the contractholder and the eligible spouse may receive a joint and survivor pension of less than 60% of the amount of annuity payable prior to the first death; however this is only permitted if the required waiver is signed by both the contractholder’s eligible spouse and the contractholder and delivered to SSQ in accordance with applicable pension legislation.
Sample 1
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Amount of Joint and Survivor Pension. (not applicable in Alberta) The amount of the joint and survivor pension payable to the eligible spouse must be equal to at least 60% of the amount that was payable to the contractholder prior to his death, taking into account any adjustments permitted under applicable pension legislation and including, where applicable, during the replacement period, the amount of any temporary pension. In Newfoundland and Labrador, in Nova Scotia, in New Brunswick, in Ontario, in Manitoba, and in British Columbia, the annuity to be provided to the contractholder with an eligible spouse at the date the pension commences is to be such joint life annuity under which the amount of annuity payable after the death of the eligible spouse is not less than 60% of the amount of annuity paid during their joint lives. Where permitted under applicable pension legislation, the eligible spouse may receive a joint and survivor pension of less than 60%; however this is only permitted if the required waiver is signed and delivered to SSQ in accordance with applicable pension legislation. In Manitoba, the contractholder and the eligible spouse may receive a joint and survivor pension of less than 60% of the amount of annuity payable prior to the first death; however this is only permitted if the required waiver is signed by both the contractholder’s eligible spouse and the contractholder and delivered to SSQ in accordance with applicable pension legislation.
Sample 1
Amount of Joint and Survivor Pension. The amount of the joint and survivor pension payable to the eligible spouse must be equal to at least 60% of the amount that was payable to the contractholder prior to his death, taking into account any adjustments permitted under applicable pension legislation and including, where applicable, during the replacement period, the amount of any temporary pension. In Newfoundland and Labrador, the annuity to be provided to the contractholder with an eligible spouse at the date the pension commences is to be such joint life annuity under which the amount of annuity payable after the death of the eligible spouse is not less than 60% of the amount of annuity paid during their joint lives. Where permitted under applicable pension legislation, the eligible spouse may receive a joint and survivor pension of less than 60%; however this is only permitted if the required waiver is signed and delivered to SSQ in accordance with applicable pension legislation.
Sample 1

Related to Amount of Joint and Survivor Pension

  • Qualified Joint and Survivor Annuity Unless an optional form of benefit is selected pursuant to a qualified election within the 90-day period ending on the annuity starting date, a married Participant's Vested account balance will be paid in the form of a qualified joint and survivor annuity and an unmarried Participant's Vested account balance will be paid in the form of a life annuity. The Participant may elect to have such annuity distributed upon attainment of the earliest retirement age under the Plan.

  • Survivor Benefit Upon the death of a regular employee who leaves a spouse and/or dependants enrolled in the Medical Services Plan, Dental Plan and Extended Health Benefit Plan, such enrolment may continue for twelve (12) months following the employee’s death, provided the enrolled family members pay the employee’s share of the cost of the premium for the plans. The Employer shall advise the survivor of this benefit.

  • Survivor Benefits 1. A surviving dependent of a retiree who was eligible to receive a Retiree Medical Grant, as stated above in A through C, and who qualifies for a monthly allowance shall be eligible for fifty (50) percent of the Grant authorized for the retiree. 2. A surviving eligible retiree who qualifies for a monthly retirement allowance who was married to a retiree who was also eligible for a Grant shall receive the survivor benefit described in D.1., above, or his or her own Grant, whichever is greater. Such retiree shall not be eligible for both Grants.

  • Domestic Partners; Spouses; Gender Discrimination If the Contract Amount is $100,000 or more, Contractor certifies that it is in compliance with PCC 10295.3, which places limitations on contracts with contractors who discriminate in the provision of benefits regarding marital or domestic partner status.

  • Tax Sheltered Annuity Voluntary adjunct employee salary reductions for Internal Revenue Code Section 403(b) tax-sheltered annuities and 457(b) deferred compensation shall be available to adjunct employees covered by this Agreement. Contracts shall be arranged individually through the Office of the Executive Vice President for Finance and Administrative Services or designee subject to regulation by the College.

  • Survivors Benefits Benefits for the surviving family members of individuals who have died from COVID–19, including cash assistance to widows, widowers, or dependents of individuals who died of COVID–19.

  • Life Annuity In addition to the rules imposed by the Act, a life annuity purchased with the property of the Plan must comply with Pension Legislation and must be established for the Annuitant’s life. However, if the Annuitant has a Spouse on the date payments under the life annuity begin, the life annuity must be established for the lives jointly of the Annuitant and the Annuitant’s Spouse, unless the Spouse has provided a waiver in the form and manner required by Pension Legislation. Where the surviving Spouse is entitled to payments under the life annuity after the Annuitant’s death, those payments must be at least 60 percent of the amount to which the Annuitant was entitled prior to the Annuitant’s death. The life annuity may not differentiate based on gender except to the extent permitted by Pension Legislation.

  • Death Benefit Should Employee die during the term of employment, the Company shall pay to Employee's estate any compensation due through the end of the month in which death occurred.

  • Contribution Formula - Basic Life Coverage For employee basic life coverage and accidental death and dismemberment coverage, the Employer contributes one-hundred (100) percent of the cost.

  • Tax Sheltered Annuities The SPS shall continue to comply with the law(s) regarding Tax Sheltered Annuities.

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