Lump Sum Option. At any time after installment payments have commenced under Section 2.1.2 of this Agreement, Executive may petition the Board or the Plan Administrator to receive the unpaid balance of the Normal Retirement Benefit, in lieu of installment payments, in a present value lump sum. Such petition shall be submitted to the Board, or the Plan Administrator, in writing not less than 13 months prior to the date on which the Executive wishes to receive the lump sum distribution.
Lump Sum Option. The Company shall have the option of paying the benefit in a lump sum payment equal to the present value of the one hundred eight (180) payments using a discount factor of eight percent (8%).
Lump Sum Option. Effective September 1 2017 a therapist may choose by May 1, 2018 to be paid the following school year, in forty-two (42) weekly installments, with the first forty two (42) installments equivalent to 1/52nd of annual salary, and the 43rd payment equal to 10/52nd of annual salary. For each subsequent year a therapist has until May 1 to request this option for the following school year.
Lump Sum Option. The Agency will remit to the Council a single payment in the lump-sum amount for processing of the accreditation of $ , upon the execution of this Agreement by the Agency. The total amount of $ is herein remitted to the Council (payable by check to the order of American Public Works Association) via check number Purchase Order No. amount of $ .
Lump Sum Option. Effective September 1 2017 a teacher may choose by May 1, 2018 to be paid the following school year, in forty-two (42) weekly installments, with the first forty two (42) installments equivalent to 1/52nd of annual salary, and the 43rd payment equal to 10/52nd of annual salary. For each subsequent year a teacher has until May 1 to request this option for the following school year.
Lump Sum Option. An eligible employee may, with the approval of the Company, elect to receive his/her entire IEA Eligibility Amount (and any accrued vacation or other accrued amounts due) in a lump sum. Acceptance of a lump sum payment will result in a loss of seniority under Article IX, Section 3(b) of this Agreement and terminate his/her employment with the Company.
Lump Sum Option. The Agency will remit to APWA a single payment in the lump-sum amount for processing of the accreditation of $ , upon the execution of this Agreement by the Agency. The total amount of $ 7950 is herein remitted to APWA (payable by check to the order of American Public Works Association) via check number , or Purchase Order No. $ .
Lump Sum Option as described in the RIP. Except as provided in Sections 4(d)(iv) and (viii) hereof, the Executive shall be required to elect the time and form in which his Supplemental Benefit shall be paid to him at least one year prior to the date of the termination of his employment. The Executive shall be permitted to change his elections provided that such modification shall not be effective until the first anniversary of the date such change has been made. In the event that the Executive fails to make any election as to the time and form in which the Supplemental Benefit will be paid, the Supplemental Benefit will be automatically paid to the Executive in a single sum cash payment as soon as practical following his termination of employment with the Company. If the Executive dies prior to the date he is scheduled to begin receiving his Supplemental Benefit, such benefit shall be paid to the Executive's surviving spouse in either a single sum cash payment or a pre-retirement survivor annuity provided under the terms of Article VIII of the RIP, as elected by the Executive at least one year prior to termination of his employment; provided, however, that the pre-retirement survivor annuity available under the RIP shall be deemed to be a 75 percent joint and survivor annuity notwithstanding anything to the contrary in the RIP. In the event there is no election in effect at the time of the Executive's death, the Supplemental Benefit shall be paid to the surviving spouse in a single sum cash payment.
Lump Sum Option. You may elect to receive the Annuity Commencement Value in a lump sum instead of receiving a monthly income. If we pay the Annuity Commencement Value in a lump sum, we will have no further obligation under the Contract.
