ANNUITY ELECTIONS. A Participant may, upon notice to Prudential, elect to have his Participant's Account applied to purchase an annuity for him but only under the conditions permitted by the Plan, if any. The dollar value of the Account will be applied. The schedule of annuity purchase rates that applies is determined from Schedule A. The monthly amount of any annuity is determined from the schedule of purchase rates for that annuity. As of the first day no amounts remain in the Participant's Account or in an Account for him under a companion contract, his Account is cancelled. If the Participant's Account has not been cancelled before the month in which he reaches the latest age at which he is permitted to defer his distribution under law, a 120 monthly Payment Certain annuity will be purchased for him at the beginning of that month (see section 4.4).
Appears in 4 contracts
Samples: Prudential Variable Contract Account 10, Prudential Variable Contract Account 11, Prudential Variable Contract Account 10
