Common use of Incidental Death Benefits Clause in Contracts

Incidental Death Benefits. For calendar years beginning before January 1, 1989, if the Participant's spouse is not the designated Beneficiary, the method of distribution selected must assure that at least fifty (50%) percent of the present value of the amount available for distribution is paid within the life expectancy of the Participant.

Appears in 3 contracts

Samples: Adoption Agreement (Southbanc Shares Inc), Defined Contribution Plan and Trust (Capstone Pharmacy Services Inc), Adoption Agreement (Jones Medical Industries Inc /De/)

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Incidental Death Benefits. For calendar years beginning before January 1, 1989, if the Participant's spouse is not the designated Designated Beneficiary, the method of distribution selected must assure that at least fifty (50%) percent of the present value of the amount available for distribution is paid within the life expectancy of the Participant.

Appears in 1 contract

Samples: Trust Agreement (Southwest Community Bancorp)

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Incidental Death Benefits. For calendar years beginning before January 1, 1989, if the Participant's spouse is not the designated Beneficiary, the method of distribution selected must assure that at least fifty (50%) percent of the present value of the amount available for distribution is paid within the life expectancy of the Participant.

Appears in 1 contract

Samples: 401(k) Plan (Floridian Financial Group Inc)

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