Lump Sum Payment Option. The parties agree that payments will be made within a range of 6 - 12 months. The timeframe will be shown here. The amount enclosed in brackets is currently set at 1.5 million or ten percent. The amount may range from 1.5 million to 10 million and the percentage will be at least 10%. Any change will be made in a like and nondiscriminatory manner for all Investors in the same class of business. #2 The term “participants” or “members” will be included based on the product type. The Act is variable and will be excluded if the Labor Management Relations Act of 1947 does not apply to the contract. Page 12 #1 The Investor must provide advance notice in the event of plan termination, or if the plan fails to meet the applicable Code or Act requirements, depending upon product variability. It is also bracketed to allow for any amendments made to the Code. The standard number used in the contract is 7 days advance notice. This is bracketed to accommodate a change in administrative procedure or to accommodate a change as negotiated between MassMutual and the Investor. The range of values will be between 2 and 15 days. #2 The timeframe in which the Investor must provide Effective Communication will be negotiated between MassMutual and the Investor and will be a range of 30-90 days. MassMutual must determine whether it can continue to operate the contract given the plan change within 45 days of receiving notice. This number is bracketed to accommodate a change in administrative procedure or to accommodate a change as negotiated between MassMutual and the Investor. The range of values will be between 15 and 45 days. The term “Fund Sponsor” or “Board of Trustees” will be used based upon product variability. Page 14 #1 The variable text will be included or removed based on negotiations between MassMutual and the Investor. #2 MassMutual and the Investor may negotiate a time period of 30 to 90 days. Page 15 #1 The language in brackets will either be included or excluded as negotiated by the parties. #2 MassMutual and the Investor may negotiate a time period of 30 to 180 days for the time frames in brackets. #3 Section number is variable to allow for renumbering. #4 Section number is variable to allow for renumbering.
Lump Sum Payment Option. This option provides for a lump-sum cash payment of the amount of the full or partial Termination Payment and is available only if the Market Value Factor equals or exceeds one hundred percent as of the Termination Date or the Partial Termination Date. MassMutual will determine the GIA Market Value of the General Account Assets as of the Termination Date or the Partial Termination Date, which amount will be held in the general investment account of MassMutual and credited with the Holding Account Interest Rate from the Termination Date or the Partial Termination Date until disbursed in one sum in accordance with Section 4.04 not later than [six] months after the Termination Date or the Partial Termination Date, provided that if the GIA Market Value is larger than $[1.5] million, MassMutual may make payment in installments at four-week intervals. Each installment withdrawn is limited to the larger of $[1.5] million or [ten percent (10%)] of the total amount to be withdrawn and the first payment will be made not later than [six] months after the Termination Date or the Partial Termination Date. #2
Lump Sum Payment Option. This option provides for a lump-sum cash payment. The amount of the Market Value of the General Account Assets will be paid in one sum in accordance with Section 5.06 not later than six (6) months after the Termination Date, provided that if the Market Value of the General Account Assets is larger than $1.5 million, MassMutual may make payment in installments at four-week intervals. Each installment withdrawn is limited to the larger of $1.5 million or ten percent (10%) of the total amount to be withdrawn and the first payment will be made not later than six (6) months after the Termination Date.
Lump Sum Payment Option. Effective January 1, 2025, or as 12 soon as practicable thereafter, employees shall have the option to elect 13 to receive their entire BCERP benefit in the form of a voluntary lump 14 sum subject to the following:
Lump Sum Payment Option. (1) The Lump Sum Payment Option provides a Participant with:
Lump Sum Payment Option. (a) There shall be one exception to Section 5.1 in the case of a Member who is a Qualifying Member, and one exception to Section 5.1 in the case of a Member who is not a Qualifying Member:
Lump Sum Payment Option. 1 The Partner shall make a one-time, lump sum payment to CivicWell that covers the entirety of the amount due 1 Note that project hours include all project related activities as well as basic administrative tasks related to CivicSpark service (e.g., completing timecards, progress reports, project related communications with CivicWell staff, etc.). for services to be performed. Lump Sum payment is due within 30 days of Fellow(s)’ start date. In consideration of this single up-front payment, CivicWell shall submit monthly records of hours to date spent by the Fellow to perform the services required under the Agreement. Partner must inform CivicWell prior to the project start if they need invoices to include specific format, tasks, billing codes, or other details. Partner must also provide clear instructions to CivicWell about how time should be tracked and reported, if necessary. Installment Billing, Option #2 Invoices will be the total amount of the contract divided into 4 equal installments, billed over the Fellow(s)’ term of service with the first installment due at contract signing. CivicWell will bill the Partner for the full installment amount regardless of Fellow activity during any given period. If for some reason CivicWell is unable to provide services for the full contract duration (e.g., a Fellow leaves the program for medical or personal reasons and a suitable replacement cannot be provided), Partner is only responsible for the portion of the contract amount for the hours of service actually provided. Partner must inform CivicWell prior to the project start if they need invoices to include specific format, tasks, billing codes, or other details. Partner must also provide clear instructions to CivicWell about how time should be tracked and reported, if necessary.
Lump Sum Payment Option. 1. CenturyTel of Central Wisconsin, LLC and Telephone USA of Wisconsin, LLC will provide a lump sum option as provided in the CenturyLink Retirement Plan. For employees in the bargaining unit prior to February 3, 2007, the lump sum option provided in the CenturyLink Retirement Plan shall remain available to them unchanged. For employees entering or re-entering the Union on or after February 3, 2007 and new contract expiration date, inclusive, any lump sum option will be as provided in the CenturyLink Retirement Plan.
Lump Sum Payment Option. 1. Frontier Communications, Inc. and IBEW Local Union No. 543 agree to continue the Plan for Hourly Employee’s Pensions (hereinafter referred to as the Plan).
