Death Before Commencement of Benefits Sample Clauses

Death Before Commencement of Benefits. If Executive dies before having commenced payment of Executive’s Frozen SERP Benefit, then the actuarially equivalent present value of Executive’s Frozen SERP Benefit determined as of the date of death shall be payable to Executive’s designated beneficiary in a single lump sum payment as soon as administratively practicable after death. However, Executive may elect in accordance with such procedures as the Personnel Group of the Company may establish from time to time to have such death benefits payable to Executive’s designated beneficiary in five (5) or ten (10) annual installments (with the amount of each installment determined in accordance with the provisions of Paragraph 3(c) above) or in an actuarially equivalent single life annuity on the life of the designated beneficiary.
Sample 1
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Death Before Commencement of Benefits. If a Participant dies before commencing distribution of his/her benefits under the Plan, the form and timing of any death benefits will depend on whether the value of the death benefit exceeds $5,000 (or other threshold designated under AA §9-2(a)(2)). (1) Death benefit not exceeding $5,000. If the value of the death benefit does not exceed $5,000, such benefit will be paid to the Participant’s Beneficiary(ies) in a single sum as soon as administratively feasible following the Participant’s death.
Sample 1
Death Before Commencement of Benefits. If a Participant dies before commencing distribution of his/her benefits under the Plan, the form and timing of any death benefits will depend on whether the value of the death benefit exceeds $5,000 (or other threshold designated under the Agreement). In no event will any death benefit be paid in a manner that is inconsistent with the Required Minimum Distribution rules under Section 9. If a Participant’s vested Account Balance does not exceed $5,000 (or other Cash-Out threshold designated under the Agreement) at the time of distribution, the only distribution option available under the Plan is a lump sum option. If a Participant’s vested Account Balance exceeds $5,000 (or other Cash-Out threshold designated under the Agreement) at the time of distribution, the Participant may elect to receive a distribution in any form permitted under AA §9-1. The Employer may elect to accelerate the distribution to Employees upon special circumstances, such as termination after attainment of Normal Retirement Age or other special circumstances.
Sample 1
Death Before Commencement of Benefits. In the event a Participant dies on or after the first day of the Plan Year beginning after December 31, 1984, but before commencement of benefits hereunder, his entire beneficial interest in the Plan must be distributed by the December 31st coincident with or next following the fifth (5th) anniversary of the date of his death, except: (1) Spousal Beneficiary - if the Participant's designated Beneficiary is the Participant's surviving Spouse, any remaining portion of such interest shall be distributed to the surviving Spouse- (a) beginning no later than the later of:
Sample 1
Death Before Commencement of Benefits. 27 5.8 Survivor's Benefit for Surviving Spouse ............................. 27 5.9
Sample 1
Death Before Commencement of Benefits. The Accrued Benefit of a Participant who dies before his Benefit Commencement Date shall be forfeited except as provided in Section 5.8.
Sample 1

Related to Death Before Commencement of Benefits

  • Commencement of Benefits The benefits commence six (6) months from the date that disability began, which shall include the period of payment under the terms of the Short Term Income Protection Plan. Proof of disability must be submitted within six (6) months following the Qualifying Period.

  • Payment of Benefits All or part of the contract benefits may be paid under one or more of the following: - a variable payment plan; - a fixed payment plan; or - in cash. The provisions and rate for variable and fixed payment plans are described in Section 11. Contract benefits may not be placed under a payment plan unless the plan would provide to each beneficiary a monthly income the initial amount of which is at least the minimum payment amount shown on page 4. A Withdrawal Charge will be deducted from contract benefits before their payment under certain conditions described in Section 7.3.

  • Payment of Benefit The Company shall pay the annual benefit to the Executive in 12 equal monthly installments commencing with the month following the Executive’s Normal Retirement Date, paying the annual benefit to the Executive for a period of 15 years.

  • Termination of Benefits Except as provided in Section 2 above or as may be required by law, Executive’s participation in all employee benefit (pension and welfare) and compensation plans of the Company shall cease as of the Termination Date. Nothing contained herein shall limit or otherwise impair Executive’s right to receive pension or similar benefit payments that are vested as of the Termination Date under any applicable tax-qualified pension or other plans, pursuant to the terms of the applicable plan.

  • Duration of Benefits Eligibility for Income Protection benefits will cease upon the earliest of the following dates: 1.09.01 the date the member is no longer disabled from performing the duties of their regular position, or any alternative employment made available to the member by the City. 1.09.02 the date the member's Income Protection benefits have been expended. 1.09.03 the date the member dies.

  • Cessation of Benefits An employee shall cease to be eligible for benefits of this Plan at the earliest of the following dates: (a) at the end of the month in which the employee reaches his/her sixty-fifth (65th) birthday; (b) on the date of commencement of paid absence prior to retirement; (c) on the date of termination of employment with the Employer. Benefits will not be paid when an employee is serving a prison sentence. Cessation of active employment as a regular employee shall be considered termination of employment except when an employee is on authorized leave of absence with or without pay.

  • Effective Date of Benefit Termination Medical, dental and life coverage termination will take effect on the first of the month following the loss of eligible employee or dependent status. Disability benefit coverage terminations will take effect on the day following loss of eligible employee status.

  • Retention of Benefits Union leave under the following four (4) sections will be unpaid. The Employer will maintain regular pay and xxxx the Union for the costs of the employee’s salary and benefits. If the Union member is part-time or casual, and the leave is greater than their normal work hours, the Employer will pay the employee for the full length of the leave requested by the Union. The Employer will xxxx the Union for these days as noted above. The Union will pay these invoices within twenty-eight (28) days. Union leave is not unpaid leave for the purposes of Article 22.02 [i.e. such leave will not affect the employee’s benefits, seniority or increment anniversary date].

  • Denial of Benefits Subject to prior notification and consultation, a Party may deny the benefits of this Chapter to: (a) investors of the other Party where the investment is being made by a enterprise that is owned or controlled by persons of a third State and the enterprise has no substantive business activities in the territory of the other Party; or (b) investors of the other Party where the investment is being made by a enterprise that is owned or controlled by persons of the denying Party.

  • Death Benefits Upon the Executive’s death during the Contract Period, the Executive’s estate shall not be entitled to any further benefits under this Agreement.

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