Definition of Alternative Annuity. An Alternative Annuity means distribution of an Annuity Contract which is not a QJSA or a QPSA. The Alternative Annuity must be based on the life of the Participant or upon the joint lives of the Participant and a Designated Beneficiary. The Employer in its Adoption Agreement will describe the material characteristics of any Alternative Annuity available under the Plan. If Section 6.04 does not apply to the overall Plan, the Employer will not elect an Alternative Annuity.
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Samples: Adoption Agreement (Knowles Corp), Participation Agreement (Nci Building Systems Inc), Plan and Trust Agreement (Finisar Corp)
Definition of Alternative Annuity. An Alternative Annuity means distribution of an Annuity Contract which is not a QJSA QJSA, QPSA or a QPSAQOSA. The Alternative Annuity must be based on the life of the Participant or upon the joint lives of the Participant and a Designated an Individual Beneficiary. The Employer in its Adoption Agreement will describe the material characteristics of any Alternative Annuity available under the Plan. If Section 6.04 does not apply to the overall Plan, the Employer will not elect an Alternative Annuity.
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