ELECTION OF AN ANNUITY OPTION Sample Clauses

ELECTION OF AN ANNUITY OPTION. If you elect an annuity option and have an outstanding loan balance, you may repay this balance, or your contract value will be adjusted as described in your annuity contract.
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ELECTION OF AN ANNUITY OPTION. If you elect an annuity option and have an outstanding loan balance, you may repay this balance or your individual account will be adjusted as described in the Withdrawal of Your Account section.
ELECTION OF AN ANNUITY OPTION. We will waive the Withdrawal Charge if you apply your entire Account Value (i) to one of the Guaranteed Annuity Options, (ii) to a nonguaranteed Annuity Option with a life contingency or at least a ten-year period certain; or (iii) if necessary to provide income payments not less than what would be provided by applying your Surrender Value (or in NY the greater of your Surrender Value or 95% of your Account Value] to purchase a single premium immediate annuity contract at then-current purchase rates offered by the Company at the same time to the same class of Annuitants. · Increase in Separate Account Charge - We will waive the Withdrawal Charge if you surrender your Contract within 60 days after we send Prior Written Notice of our intent to increase the Separate Account Charge. · Payment under Minimum Account Value Provision - We will waive the Withdrawal Charge if we cancel your Contract and pay your Account Value under the Minimum Account Value Provision.
ELECTION OF AN ANNUITY OPTION. If you elect an annuity option and have an outstanding loan balance, you may repay this balance, or your contract value will be adjusted as described in your annuity contract. In the event of a bankruptcy, the outstanding loan remains an obligation of the Participant. In the event of a divorce, the outstanding loan remains an obligation of the Participant unless it is assumed by the alternate payee through completion of the appropriate QDRO certification form. Loan payments will be allocated to the person responsible for the repayment and, in the event of default, the defaulted amount will be tax reported to such person. This section must be signed and dated by the participant This section must be completed by the Employer or its designee if required by a contract between the Company and the Employer. This section must be completed if required by the Employer. ReliaStar Life Insurance Company (the “Company”) A member of the Voya® family of companies Home Office: Minneapolis, MN Customer Service: XX Xxx 0000, Xxxxx, XX 00000-0000 Phone: 000-000-0000 Fax: 000-000-0000 regular Mail:Customer Service overnight delivery: Customer Service Fax: Customer Service XX Xxx 0000 0000 00xx Xxx. XX Xxxx-Xxxx Fax: 000-000-0000 Xxxxx, XX 00000-0000 Xxxxx, XX 00000

Related to ELECTION OF AN ANNUITY OPTION

  • INSTRUCTIONS FOR COMPLETING REPAYMENT ELECTION FORM AND EXERCISING REPAYMENT OPTION Capitalized terms used and not defined herein have the meanings defined in the accompanying Repayment Election Form.

  • ANNUITY OPTIONS The following Annuity Options are available under this Contract. Additional options may become available in the future:

  • Death of Annuitant If the natural Owner and Annuitant are different, and the Annuitant dies before the Annuity Date, the Owner becomes the Annuitant until the Owner elects a new Annuitant. If there are Joint Annuitants, upon the death of any Annuitant prior to the Annuity Date, the Owner may elect a new Joint Annuitant. However, if the Owner is a non-natural person, We will treat the death of any Annuitant as the death of the "Primary Annuitant" and as the death of the Owner, see DEATH PROVISIONS.

  • Fixed Annuity 10 1.16 Fund(s) ........................................................... 10 1.17

  • Life Annuity In addition to the rules imposed by the Act, a life annuity purchased with the property of the Plan must comply with Pension Legislation and must be established for the Annuitant’s life. However, if the Annuitant has a Spouse on the date payments under the life annuity begin, the life annuity must be established for the lives jointly of the Annuitant and the Annuitant’s Spouse, unless the Spouse has provided a waiver in the form and manner required by Pension Legislation. Where the surviving Spouse is entitled to payments under the life annuity after the Annuitant’s death, those payments must be at least 60 percent of the amount to which the Annuitant was entitled prior to the Annuitant’s death. The life annuity may not differentiate based on gender except to the extent permitted by Pension Legislation.

  • Death During Distribution of a Benefit If the Executive dies after any benefit distributions have commenced under this Agreement but before receiving all such distributions, the Bank shall distribute to the Beneficiary the remaining benefits at the same time and in the same amounts they would have been distributed to the Executive had the Executive survived.

  • Settlement Method Election Physical Settlement, Cash Settlement, or Net Share Settlement, at the election of Counterparty as set forth in a Settlement Notice that satisfies the Settlement Notice Requirements; provided that Physical Settlement shall apply (i) if no Settlement Method is validly selected, (ii) with respect to any Settlement Shares in respect of which Dealer is unable, in good faith and in its commercially reasonable discretion, to unwind its commercially reasonable hedge by the end of the Unwind Period (taking into account any Additional Transactions with overlapping “Unwind Periods” (as defined in the applicable Additional Confirmations)) (A) in a manner that, in the reasonable discretion of Dealer, based on advice of counsel, is consistent with the requirements for qualifying for the safe harbor provided by Rule 10b-18 under the Exchange Act (“Rule 10b-18”) or (B) in its commercially reasonable judgment, due to the occurrence of five or more Disrupted Days or to the lack of sufficient liquidity in the Shares on any Exchange Business Day during the Unwind Period, (iii) to any Termination Settlement Date (as defined under “Termination Settlement” in Paragraph 7(g) below) and (iv) if the Final Date is a Settlement Date other than as the result of a valid Settlement Notice, in respect of such Settlement Date; provided, further, that, if Physical Settlement applies under clause (ii) immediately above, Dealer shall provide written notice to Counterparty at least two Scheduled Trading Days prior to the applicable Settlement Date.

  • Joint Election As a condition of the Units granted hereunder, you agree to accept any liability for secondary Class 1 National Insurance Contributions (the “Employer NICs”), which may be payable by the Company or your Employer with respect to the Units and/or payment of the Units and issuance of Shares pursuant to the Units, the assignment or release of the Units for consideration, or the receipt of any other benefit in connection with the Units. Without limitation to the foregoing, you agree to make an election (the “Election”), in the form specified and/or approved for such election by HMRC, that the liability for your Employer NICs payments on any such gains shall be transferred to you to the fullest extent permitted by law. You further agree to execute such other elections as may be required between you and any successor to the Company and/or your Employer. You hereby authorize the Company and your Employer to withhold such Employer NICs by any of the means set forth in Section III of the Agreement. Failure by you to enter into an Election, withdrawal of approval of the Election by HMRC or a joint revocation of the Election by you and the Company or your Employer, as applicable, shall be grounds for the forfeiture and cancellation of the Units, without any liability to the Company or your Employer.

  • Qualified Joint and Survivor Annuity Unless an optional form of benefit is selected pursuant to a qualified election within the 90-day period ending on the annuity starting date, a married Participant's Vested account balance will be paid in the form of a qualified joint and survivor annuity and an unmarried Participant's Vested account balance will be paid in the form of a life annuity. The Participant may elect to have such annuity distributed upon attainment of the earliest retirement age under the Plan.

  • Deferral Election A Participant may elect to defer all or a specified percentage of the Compensation earned in a Plan Year by such Participant for serving as a member of the Board of any Participating Fund or as a member of any committee or subcommittee thereof. Reimbursement of expenses of attending meetings of the Board, committees of the Board or subcommittees of such committees may not be deferred. Such election shall be made by executing before the first day of such Plan Year such election notice as the Administrator may prescribe; provided, however, that upon first becoming eligible to participate in the Plan by reason of appointment to a Board, a Participant may file a Deferral Election not later than 30 days after the effective date of such appointment, which election shall apply to Compensation earned in the portion of the Plan Year commencing the day after such election is filed and ending on the last day of such Plan Year.

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