Annuity Distributions the law requires distributions to certain participants to be in the form of commercial insurance annuities, unless consented to and waived by both the participant and his or her spouse. Participants that are subject to this requirement are identified in section 6.04(E) of the Plan. For administrative convenience choose option (a). If you are restating a plan that was subject to the joint and survivor annuity rules, you must select Option (b).
Annuity Distributions. A Participant may elect to have the Plan Administrator use the Participant’s vested Account Balance to purchase an annuity as described in Section 8.02 of the Plan.
Annuity Distributions. If so provided in Section 1.11(c), a Participant may elect distributions made in whole or in part in the form of an annuity contract subject to the provisions of Section 8.03.
(a) An annuity contract distributed under the Plan must be purchased from an insurance company and must be nontransferable. The terms of an annuity contract shall comply with the requirements of the Plan and distributions under such contract shall be made in accordance with Section 401(a)(9) of the Code and the regulations thereunder.
(b) The payment period of an annuity contract distributed to the Participant pursuant to this Section may be as long as the Participant lives. If the annuity is payable to the Participant and his spouse or designated Beneficiary, the payment period of an annuity contract may be for as long as either the Participant or his spouse or designated Beneficiary lives. Such an annuity may provide for an annuity certain feature for a period not exceeding the life expectancy of the Participant. If the annuity is payable to the Participant and his spouse such period may not exceed the joint life and last survivor expectancy of the Participant and his spouse, or, if the annuity is payable to the Participant and a designated Beneficiary, the joint life and last survivor expectancy of the Participant and such Beneficiary. If the Participant dies prior to the commencement of his benefits, the payment period of an annuity contract distributed to the Beneficiary of the Participant may be as long as the Participant's Beneficiary lives, and may provide for an annuity certain feature for a period not exceeding the life expectancy of the Beneficiary. Any annuity contract distributed under the Plan must provide for nonincreasing payments.
Annuity Distributions. If so provided in Section 1.11(c), a Participant may elect distributions made in whole or in part in the form of an annuity contract subject to the provisions of Section 8.03.
Annuity Distributions. 30 8.03 Joint and Survivor Annuities/Pre-retirement Survivor Annuities.................................30 8.04 Installment Distributions......................................................................32 8.05 Immediate Distributions........................................................................33 8.06 Determination of Method of Distribution........................................................34 8.09 Whereabouts of Participants and Beneficiaries..................................................35
Annuity Distributions. If distributions to any Participant or Beneficiary from the Plan are to be made in the form of an annuity contract purchased from an insurance company, such contract shall provide for distributions to be made in accordance with Section 401(a)(9) of the Code and the Treasury Regulations thereunder.
Annuity Distributions. 41 8.03 JOINT AND SURVIVOR ANNUITIES/PRE-RETIREMENT SURVIVOR ANNUITIES.......42 8.04 INSTALLMENT DISTRIBUTIONS............................................44 8.05
Annuity Distributions. This Appendix C to the First Security Incentive Savings Plan describes the limited instances in which annuity distributions are permitted pursuant to Article X.
Annuity Distributions. Notwithstanding any other provision of the Plan, if annuity distributions are provided for under the Adoption Agreement and a Participant elects distribution of his or her benefits in the form of an annuity, or if annuity distributions are the normal form of benefit under the Plan, as specified in the Adoption Agreement, the Participant's benefits will be paid as provided in this Section 7.7.
Annuity Distributions. If so provided in Section 1.11(c), a Participant may elect distributions made in whole or in part in the form of an annuity contract subject to the provisions of Section 8.03.
(a) An annuity contract distributed under the Plan must be purchased from an insurance company and must be nontransferable. The terms of an annuity contract shall comply with the requirements of the Plan and distributions under such contract shall be made in accordance with Section 401(a)(9) of the Code and the regulations thereunder.
(b) The payment period of an annuity contract distributed to the Participant pursuant to this Section may be as long as the Participant lives. If the annuity is payable to the Participant and his spouse or designated Beneficiary, the payment period of an annuity contract may be for as long as either the Participant or his spouse or designated Beneficiary lives. Such an annuity may provide for an annuity certain feature for a period not exceeding the life expectancy of the Participant. If the annuity is payable to the Participant and his spouse such period may not exceed the
