Common use of No Beneficiary Designation Clause in Contracts

No Beneficiary Designation. If a Participant fails to name a Beneficiary in accordance with Section 8.1, or if the Beneficiary named by a Participant predeceases the Participant, then the Trustee shall pay the Participant’s Nonforfeitable Accrued Benefit in accordance with Article 6 in the following order of priority to: (a) the Participant’s surviving spouse; (b) the Participant’s surviving children, including adopted children, in equal shares; (c) the Participant’s surviving parents, in equal shares; or (d) the Participant’s estate. If the Beneficiary does not predecease the Participant, but dies prior to distribution of the Participant’s entire Nonforfeitable Accrued Benefit, the Trustee shall pay the remaining Nonforfeitable Accrued Benefit to the Beneficiary’s estate unless the Participant’s Beneficiary designation provides otherwise. The Plan Administration Committee shall direct the Trustee as to the method and to whom the Trustee shall make payment under this Section 8.2.

No Beneficiary Designation. If a Participant fails to name a Beneficiary in accordance with Section 8.18.01, or if the Beneficiary named by a Participant predeceases the Participanthim, then the Trustee shall will pay the Participant’s Nonforfeitable 's Accrued Benefit in accordance with Article 6 Section 6.02 in the following order of priority to: (a) the The Participant’s 's surviving spouse; (b) the The Participant’s 's surviving children, including adopted children, in equal shares; (c) the The Participant’s 's surviving parents, in equal shares; or (d) The legal representative of the estate of the Participant’s estate. If the Beneficiary does not predecease the Participant, but dies prior to the distribution of the Participant’s 's entire Nonforfeitable Accrued Benefit, the Trustee shall will pay the remaining Nonforfeitable Accrued Benefit to the Beneficiary’s 's estate unless the Participant’s 's Beneficiary designation provides otherwise. The Plan Administration Advisory Committee shall will direct the Trustee as to the method and to whom the Trustee shall will make payment under this Section 8.28.02.