Common use of Definition of Preretirement Survivor Annuity Clause in Contracts

Definition of Preretirement Survivor Annuity. The “Preretirement Survivor Annuity” is an annuity which is for the life of a Participant’s Surviving Spouse, which is the actuarial equivalent of 50% of the Participant’s nonforfeitable Account balance as of the date of his death, whether vested before or upon death and including the proceeds of any insurance contracts, and under which annuity payments commence as of a date (not later than December 31 of the calendar year in which the Participant would have attained age 70½) elected by such Surviving Spouse.

Definition of Preretirement Survivor Annuity. The “"Preretirement Survivor Annuity” " is an annuity which is for the life of a Participant’s 's Surviving Spouse, which is the actuarial equivalent of 50% 50 percent of the Participant’s 's nonforfeitable Account balance as of the date of his death, whether vested before or upon death and including the proceeds of any insurance contracts, and under which annuity payments commence as of a date (not later than December 31 of the calendar year in which the Participant would have attained age 70½70-1/2) elected by such Surviving Spouse.

Definition of Preretirement Survivor Annuity. The “Preretirement Survivor Annuity” is an annuity which is for the life of a Participant’s Surviving Spouse, which is the actuarial equivalent of 50% of the Participant’s nonforfeitable Account balance as of the date of his death, whether vested before or upon death and including the proceeds of any insurance contracts, and under which annuity payments commence as of a date (not later than December 31 of the calendar year in which the Participant would have attained age 70½701/2) elected by such Surviving Spouse.