Married Participants Sample Clauses

Married Participants. If a Participant has a Spouse as of the date of death, the death benefit attributable to the Money Purchase Account shall be paid to the Spouse unless an election has been made pursuant to (c) below. The form of payment shall be a monthly annuity for the life of the Spouse, which form of death benefit shall be known as the Qualified Pre-Retirement Survivor Annuity. The Participant's Spouse may direct that payment of the Qualified Pre-Retirement Survivor Annuity commence as of the month following the month of the Participant's death or as of any subsequent month, subject to the rules set forth in Section 10.6. If the Spouse does not so direct, payment of such benefit shall commence at the time the Participant would have attained Normal Retirement Age. Notwithstanding the foregoing, the Spouse shall have the right, prior to the Annuity Starting Date with respect to the Qualified Pre-Retirement Survivor Annuity, to waive the Qualified Pre-Retirement Survivor Annuity and to elect instead one of the forms of payment set forth in Section 8.5, subject to the rules set forth in Section 10.6.
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Married Participants. If a Participant or Former Participant is married on the Annuity Starting Date, the normal form of payment, unless elected otherwise, within the 90 day period ending on the Annuity Starting Date, and with the consent of the Participant's or Former Participant's Spouse, pursuant to subsection (d), shall be a qualified joint and survivor annuity, which shall be the Actuarial Equivalent of the normal form for single Participants described in Section 4.6(a), as applicable, payable for life to the Participant or Former Participant and thereafter, for the life of the Participant's or Former Participant's Surviving Spouse in an amount equal to 50% of the amount that was payable to the Participant or Former Participant.
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Married Participants. Notwithstanding, paragraphs A and C of this Section V, if a Participant is survived by a Spouse, the Participant’s Beneficiary shall be the Participant’s Spouse. Notwithstanding the foregoing, a married Participant may designate a Beneficiary other than the Participant’s Spouse by filing a written designation with the Committee naming a Beneficiary other than the Participant’s Spouse and that contains the written consent of the Spouse to such designation (which may not be changed without the Spouse’s written consent) or the written consent of the Spouse that expressly permits Beneficiary Designations by the Participant without any requirement of further consent by the spouse. The Participant’s Spouse must acknowledge the effect of the waiver and consent, and the Participant’s Spouse’s signature must be notarized or witnessed by a Plan representative. If the consent of the Spouse permits Beneficiary Designations without further consent by the Spouse, the consent must acknowledge and expressly relinquish the right to limit the consent to the designation of a specific Beneficiary. If the Spouse is legally incompetent to give consent, the Spouse’s legal guardian, even if the guardian is the Participant, may give consent. Also, if the Participant is legally separated or the Participant has been abandoned (within the meaning of the local law of the Participant’s state of residence) by his or her Spouse and the Participant has a court order to that effect, no Spousal consent shall be necessary for any Beneficiary Designation unless a qualified domestic relations order (“QDRO”), as defined in Section 206(d) of ERISA, provides otherwise.
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Married Participants. 43 9.6 Unmarried Participants.........................................................................46 9.6A. Direct Rollover Requirements...................................................................46 9.7
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Married Participants. A Participant’s sole Beneficiary shall be his or her surviving spouse, unless there is no surviving spouse or the surviving spouse had consented in writing to the Participant’s designation of another Beneficiary. Such written consent shall be signed by the surviving spouse and witnessed by a member of the Committee or a notary public. Written consent need not be obtained if the Participant established to the satisfaction of the Committee that there is no spouse or the spouse cannot be located. Any consent by a spouse (or establishment that consent cannot be obtained) shall be limited to the specific Beneficiary designated by the Participant, and shall be effective only with respect to such spouse. For purposes of this Section 10(b), the term “spouse,” includes an individual married to a person of the same sex if the individuals are lawfully married under state law, and the term “marriage” includes such a marriage between individuals of the same sex and the Service adopts a general rule recognizing a marriage of same-sex individuals that was validly entered into in a state whose laws authorize the marriage of two individuals of the same sex even if the married couple is domiciled in a state that does not recognize the validity of same-sex marriages
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Married Participants 
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Related to Married Participants

  • Participants The Lender and its participants, if any, are not partners or joint venturers, and the Lender shall not have any liability or responsibility for any obligation, act or omission of any of its participants. All rights and powers specifically conferred upon the Lender may be transferred or delegated to any of the Lender's participants, successors or assigns.

  • Eligible Participants Families and individuals experiencing homelessness. For the purposes of the Program, families and individuals are considered to be homeless only when he/she/they lack(s) a fixed, regular and adequate nighttime residence and reside(s) in a place not meant for human habitation, such as cars, parks, sidewalks, abandoned buildings, motels, or other shelters, or for reference as further defined in 24 CFR Part 578.3 and 576.2.

  • Multiple Individual Retirement Accounts In the event the depositor maintains more than one Individual Retirement Account (as defined in Section 408(a)) and elects to satisfy his or her minimum distribution requirements described in Article IV above by making a distribution from another individual retirement account in accordance with Item 6 thereof, the depositor shall be deemed to have elected to calculate the amount of his or her minimum distribution under this custodial account in the same manner as under the Individual Retirement Account from which the distribution is made.

  • Pre-Retirement Death Benefit (a) Normal form of payment. If (i) the Director dies while employed by the Bank, and (ii) the Director has not made a Timely Election to receive a lump sum benefit, this Subsection 4.1(a) shall be controlling with respect to pre-retirement death benefits. The balance of the Director=s Retirement Income Trust Fund, measured as of the later of (i) the Director=s death, or (ii) the date any final lump sum Contribution is made pursuant to Subsection 2.1(b), shall be annuitized (using the Interest Factor) into monthly installments and shall be payable for the Payout Period. Such benefits shall commence within thirty (30) days of the date the Administrator receives notice of the Director=s death. Should Retirement Income Trust Fund assets actually earn a rate of return, following the date such balance is annuitized, which is less than the rate of return used to annuitize the Retirement Income Trust Fund, no additional contributions to the Retirement Income Trust Fund shall be required by the Bank in order to fund the final benefit payment(s) and make up for any shortage attributable to the less-than-expected rate of return. Should Retirement Income Trust Fund assets actually earn a rate of return, following the date such balance is annuitized, which is greater than the rate of return used to annuitize the Retirement Income Trust Fund, the final benefit payment to the Director=s Beneficiary shall distribute the excess amounts attributable to the greater-than-expected rate of return. The Director=s Beneficiary may request to receive the unpaid balance of the Director=s Retirement Income Trust Fund in a lump sum payment. If a lump sum payment is requested by the Beneficiary, payment of the balance of the Retirement Income Trust Fund in such lump sum form shall be made only if the Director=s Beneficiary notifies both the Administrator and trustee in writing of such election within ninety (90) days of the Director=s death. Such lump sum payment shall be made within thirty (30) days of such notice. The Director=s Accrued Benefit Account (if applicable), measured as of the later of (i) the Director's death or (ii) the date any final lump sum Phantom Contribution is recorded in the Accrued Benefit Account pursuant to Subsection 2.1(c), shall be annuitized (using the Interest Factor) into monthly installments and shall be payable to the Director's Beneficiary for the Payout Period. Such benefit payments shall commence within thirty (30) days of the date the Administrator receives notice of the Director=s death, or if later, within thirty (30) days after any final lump sum Phantom Contribution is recorded in the Accrued Benefit Account in accordance with Subsection 2.1(c).

  • Participant See Section 7(a) hereof.

  • Designated Beneficiary The individual who is designated as the Beneficiary under the Plan in accordance with Section 401(a)(9) of the Code and the regulations thereunder.

  • Accrued Benefit 1.05 1.16 Nonforfeitable ............................................. 1.05 1.17 Plan Year/Limitation Year .................................. 1.05 1.18 Effective Date ............................................. 1.05 1.19 Plan Entry Date ............................................ 1.05 1.20

  • Rights of Participants Any participant in a Lender's interests hereunder may assert any claim for yield protection under Section 4.03 that it could have asserted if it were a Lender hereunder. If such a claim is asserted by any such participant, it shall be entitled to receive such compensation from the Borrower as a Lender would receive in like circumstances; provided, however, that with respect to any such claim, the Borrower shall have no greater liability to the Lender and its participant, in the aggregate, than it would have had to the Lender alone had no such participation interest been created.

  • Spouse The spouse of an eligible employee (if legally married under Minnesota law). For the purposes of health insurance coverage, if that spouse works full-time for an organization employing more than one hundred (100) people and elects to receive either credits or cash (1) in place of health insurance or health coverage or (2) in addition to a health plan with a seven hundred and fifty dollar ($750) or greater deductible through his/her employing organization, he/she is not eligible to be a covered dependent for the purposes of this Article. If both spouses work for the State or another organization participating in the State's Group Insurance Program, neither spouse may be covered as a dependent by the other, unless one spouse is not eligible for a full Employer Contribution as defined in Section 3A. Effective January 1, 2015 if both spouses work for the State or another organization participating in the State’s Group Insurance Program, a spouse may be covered as a dependent by the other.

  • Death of Participant Any distribution or delivery to be made to Participant under this Award Agreement will, if Participant is then deceased, be made to Participant’s designated beneficiary, or if no beneficiary survives Participant, the administrator or executor of Participant’s estate. Any such transferee must furnish the Company with (a) written notice of his or her status as transferee, and (b) evidence satisfactory to the Company to establish the validity of the transfer and compliance with any laws or regulations pertaining to said transfer.

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