Common use of Automatic Qualified Joint and Survivor Annuity Clause in Contracts

Automatic Qualified Joint and Survivor Annuity. If benefits in the form of a single life annuity become payable to a married Participant who: (a) begins to receive payments on or after Normal Retirement Age; or (b) dies on or after Normal Retirement Age while in active Employment; or (c) begins to receive payments on or after the "Qualified Early Retirement Age", as that term is defined in Section 6.1.3(D)(3)(a); or (d) terminates from Employment on or after attaining Normal Retirement Age (or Qualified Early Retirement Age) and after satisfying the eligibility requirement for the payment of benefits under the Plan and thereafter dies before his or her Benefit Commencement Date; then such benefits will be received in the form of a Qualified Joint and Survivor Annuity, unless the Participant has elected otherwise during the election period which begins at least six months before the Participant attains Qualified Early Retirement Age and ends no earlier than 90 days before his or her Benefit Commencement Date. Any election hereunder will be in writing and may be changed by the Participant at any time.

Automatic Qualified Joint and Survivor Annuity. If benefits in the form of a single life annuity become payable to a married Participant who: (a) begins to receive payments on or after Normal Retirement Age; or (b) dies on or after Normal Retirement Age while in active EmploymentAge; or (c) begins to receive payments on or after the "Qualified Early Retirement Age", as that term is defined in Section 6.1.3(D)(3)(a); or (d) terminates from Employment on or after attaining Normal Retirement Age (or Qualified Early Retirement Age) and after satisfying the eligibility requirement for the payment of benefits under the Plan and thereafter dies before his or her Benefit Commencement Date; then such benefits will be received in the form of a Qualified Joint and Survivor Annuity, unless the Participant has elected otherwise during the election period which begins at least six months before the Participant attains Qualified Early Retirement Age and ends no earlier than 90 days before his or her Benefit Commencement Date. Any election hereunder will be in writing and may be maybe changed by the Participant at any time.