ELECTION AND COMMENCEMENT OF ANNUITY BENEFITS Sample Clauses

ELECTION AND COMMENCEMENT OF ANNUITY BENEFITS. As of the Annuitant's Retirement Date, provided the Annuitant is then living, the Annuity Account Value shall be applied to provide the Normal Form of Annuity Benefit, unless you elect, subject to the terms of the Plan and the provisions of the Code, (i) to have the Cash Value paid in a single sum, (ii) to apply the Annuity Account Value or Cash Value, whichever is applicable pursuant to the first paragraph of Section 3.04, to provide an Annuity Benefit on any other form offered by us or one of our affiliated or subsidiary life insurance companies, as elected by you or (iii) to take partial withdrawals in amounts and at times as required by the distribution rules of Section 457(d) and 401(a)(9) of the Code and applicable Treasury Regulations, pursuant to Section 3.05, and subject to our rules then in effect. Notice and election forms will be provided to you not more than six months prior to the Retirement Date. (On your prior written request we will also provide notice and election forms directly to the Annuitant). If you elect prior to the Annuitant's Retirement Date to terminate this Contract pursuant to Section 2.06, you may elect to have an Annuity Benefit paid in lieu of the Cash Value. If your Plan permits and you provide us written instructions to do so in advance of payment, we will make payment of the Cash Value, Annuity Benefits or partial withdrawals directly to the Annuitant, Substituted Beneficiary or other payee designated by you. We will have the right to require you to furnish pertinent information to provide an Annuity Benefit, and will be fully protected in relying on such information and need not inquire as to the accuracy or completeness thereof. The applicable Annuity Benefit will be provided pursuant to Sections 3.04 and 3.05. We may offer annuity forms other than the Life Annuity Form or Joint and Survivor Life Annuity Form issued by us or one of our affiliated or subsidiary life insurance companies.
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ELECTION AND COMMENCEMENT OF ANNUITY BENEFITS. As of the Annuitant's Retirement Date, provided the Annuitant is then living, the Annuitant's Annuity Value shall be applied to provide an Annuity Benefit on the Normal Form, unless the Annuitant elects as of such Retirement Date to (i) terminate the Contract and receive the Cash Value of the Annuitant's Accounts as a single sum pursuant to Section 3.10, (ii) have payments made under the periodic distribution option described in Section 4.04, (iii) have another form of Annuity Benefit provided pursuant to Section 4.03 or, (iv) subject to AXA Equitable's rules then in effect, any other annuity form or combination of forms or withdrawal option offered by AXA Equitable or have any combination of the three preceding options.
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ELECTION AND COMMENCEMENT OF ANNUITY BENEFITS. As of your Retirement Date, provided you are then living, the Annuity Account value shall be applied to provide the Normal Form of Annuity Benefit, unless you elect (i) to receive the Cash Value of this Contract in a single sum or (ii) to apply the Annuity Account Value or Cash Value, whichever is applicable pursuant to the first paragraph of Section 3.04, to provide an Annuity Benefit on any other form offered by us, or one of our affiliated or subsidiary life insurance companies, as elected by you, or (iii) to take partial withdrawals in amounts and at times as required by the Code, pursuant to Sections 2.07 and 3.05, subject to our rules then in effect and any other applicable requirements under the Code. We will provide notice and election forms to you not more than six months before your Retirement Date. If you elect to terminate this Contract prior to the Retirement Date, pursuant to Section 2.06, an election may be made to receive an Annuity Benefit in lieu of the Cash Value. We will have the right to require you to furnish pertinent information to provide an Annuity Benefit and will be fully protected in relying on such information and need not inquire as to the accuracy or completeness thereof. The applicable Annuity Benefit will be provided pursuant to Sections 3.04 and 3.05. We may offer annuity forms other than the Life Annuity Form or Joint and Survivor Life Annuity Form, issued by us or one of our affiliated or subsidiary life insurance companies.
Sample 1
ELECTION AND COMMENCEMENT OF ANNUITY BENEFITS. As of your Retirement Date, provided you are then living, the Annuity Account Value shall be applied to provide the Normal Form of Annuity Benefit, unless you elect (i) to receive the Cash Value in a single sum, or (ii) to apply the Annuity Account Value, (less any outstanding loan as set forth in Section 2.13) or Cash Value, whichever is applicable pursuant to the first paragraph of Section 3.04, to provide an Annuity Benefit on any other annuity form offered by us, or one of our affiliated or subsidiary life insurance companies, as elected by you, or (iii) to take partial withdrawals in amounts and at times as required by the Code, pursuant to Sections 2.07 and 3.05, subject to our rules then in effect and any other applicable requirements under the Code.
Sample 1
ELECTION AND COMMENCEMENT OF ANNUITY BENEFITS. Subject to the terms of the Plan, including the spousal consent and survivor rules described in Section 3.06, as of your Retirement Date, provided you are then living, the Annuity Account Value less any outstanding loan shall be applied to provide the Normal Form of Annuity Benefit, unless an election is made (i) to receive the Cash Value of this Contract in a single sum, (ii) to apply the Annuity Account Value, (less any outstanding loan as set forth in Section 2.10) or Cash Value, whichever is applicable pursuant to the first paragraph of Section 3.04, to provide an Annuity Benefit on any other form offered by us or one of our affiliated or subsidiary life insurance companies, or (iii) to take partial withdrawals in amounts and at times as required by the minimum distribution rules of Section 401(a)(9) of the Code and applicable Treasury Regulations, pursuant to Section 3.05, subject to our rules then in effect and any other applicable requirements under the Code.
Sample 1
ELECTION AND COMMENCEMENT OF ANNUITY BENEFITS. As of the Annuitant's Retirement Date, provided the Annuitant is then living, the Annuity Account Value shall be applied to provide the Normal Form of Annuity Benefit, unless you elect, (i) to receive the Cash Value of the Contract in a single sum, (ii) to apply the Annuity Account Value or Cash Value, whichever is applicable pursuant to the first paragraph of Section 3.04, to provide an Annuity Benefit on any other form offered by us or one of our affiliated or subsidiary life insurance companies, as elected by you, or (iii) to apply the Cash Value to provide any other form of benefit payment offered by us, subject to our rules then in effect. We will provide notice and election forms to you not more than six months before the Retirement Date. If you elect to terminate this Contract pursuant to Section 2.06 before the Retirement Date, an election may be made to receive any form of benefit payment offered by us, subject to our rules then in effect and any other applicable requirements under the Code.
Sample 1
ELECTION AND COMMENCEMENT OF ANNUITY BENEFITS. As of your Retirement Date, provided the Annuitant is then living, the Annuity Account Value shall be applied to provide the Normal Form of Annuity Benefit, unless you elect to receive the Cash Value in a single sum, subject to our rules then in effect and any other applicable requirements under the Code. Notice and election forms will be provided to you not more than six months prior to the Retirement Date. (On your prior written request we will also provide notice and election forms directly to the Annuitant). If you elect prior to the Annuitant's Retirement Date to terminate this Contract pursuant to Section 2.06, an election may be made to receive an Annuity Benefit in lieu of the Cash Value. If your Plan permits and you provide us written instructions to do so in advance of payment, we will make payment of the Cash Value, Annuity Benefits or partial withdrawals directly to the Annuitant, Substituted Beneficiary or other payee designated by you. We will have the right to require you to furnish pertinent facts and determinations to provide an Annuity Benefit, and will be fully protected in relying on such information and need not inquire as to the accuracy or completeness thereof.
Sample 1
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ELECTION AND COMMENCEMENT OF ANNUITY BENEFITS. As of a Participant's Retirement Date, provided such Participant is then living, the Participant's Account Balance shall be applied to provide an Annuity Benefit on the Normal Form, unless such Participant elects (i) to receive the Participant's Account Balance either in a single sum or under the periodic distribution option described in Section 4.04, or (ii) to apply such Participant's Account Balance to provide an Annuity Benefit pursuant to Section 4.03 on any other annuity form offered by Equitable subject to Equitable's rules then in effect and any applicable requirements under the Internal Revenue Code, provided that any other annuity form shall provide that the entire interest of the Participant will be distributed in equal or substantially equal payments over the life of the Participant and the Participant's spouse or over a period not extending beyond the life expectancy of the Participant or the joint and last survivor expectancy of the Participant and the Participant's spouse, as of the date annuity payments are to commence. Notwithstanding anything to the contrary in the preceding paragraph, Equitable reserves the right to pay the Participant's Account Balance to the Participant in a single sum in lieu of providing an Annuity Benefit if less than $2000 would be applied to provide the Annuity Benefit or less than $20 per month would be payable under the Annuity Benefit or periodic distribution option. Equitable will provide appropriate notice and election forms to a Participant not more than six months before such Participant's Retirement Date. ANNUITY BENEFITS--(cont'd) Equitable will have the right to require the Participant to furnish pertinent facts and determinations to provide an Annuity Benefit, and will be fully protected in relying on such information and need not inquire as to the accuracy or completeness thereof.
Sample 1

Related to ELECTION AND COMMENCEMENT OF ANNUITY 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.

  • Death Benefit Should Employee die during the term of employment, the Company shall pay to Employee's estate any compensation due through the end of the month in which death occurred.

  • 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.

  • Retirement Benefits Due to either investment or employment during the marriage, either the Husband or Wife: (check one)

  • 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.

  • 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.

  • Extension of Benefits Upon termination of insurance, whether due to termination of eligibility, or termination of the Contract, an extension of benefits shall be provided for a period of no less than 30 days for completion of a dental procedure that was started before Your coverage ended.

  • 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.

  • Survivor Benefits 1. A surviving dependent of a retiree who was eligible to receive a Retiree Medical Grant, as stated above in A through C, and who qualifies for a monthly allowance shall be eligible for fifty (50) percent of the Grant authorized for the retiree. 2. A surviving eligible retiree who qualifies for a monthly retirement allowance who was married to a retiree who was also eligible for a Grant shall receive the survivor benefit described in D.1., above, or his or her own Grant, whichever is greater. Such retiree shall not be eligible for both Grants.

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