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: 401(k) Plan Adoption Agreement (Knowles Corp), 401(k) Profit Sharing Plan (Nci Building Systems Inc), Defined Contribution Prototype and Volume Submitter Plan (Finisar Corp)
Definition of Alternative Annuity. An Alternative Annuity means distribution of an Annuity Contract Contract, including, but not limited to a QLAC, 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.
Appears in 1 contract
Samples: Defined Contribution Pre Approved Plan (J&j Snack Foods 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.
Appears in 1 contract
Samples: Defined Contribution Prototype Plan and Trust Agreement (Bob Evans Farms Inc)
