Non-Assignment of Benefits. Assignment, pledge or encumbrance, of any kind, of Benefits under this Plan shall not be permitted or recognized under any circumstances. Nor shall Benefits be subject to attachment or other legal process for debts of Participants, or Covered Dependents. In the event of any such assignment or attachment of any kind, the Benefit shall automatically terminate and thereafter may be applied by the Committee, in its discretion, for the benefit of the Participant or Covered Dependent.
Non-Assignment of Benefits.
a. No Participant, Pensioner or Beneficiary entitled to any benefits under this Pension Plan shall have the right to assign, alienate, transfer, encumber, pledge, mortgage, hypothecate, anticipate or impair in any manner his legal or beneficial interest, or any interest in assets of the Pension Fund, or benefits of this Pension Plan. Neither the Pension Fund, nor any of the assets thereof, shall be liable for the debts of any Participant, Pensioner or Beneficiary entitled to any benefits under this Plan, nor be subject to attachment or execution or process in any court action or proceeding.
b. Notwithstanding subsection a. above or any other provision of the Plan, benefits shall be paid in accordance with a Qualified Domestic Relations Order, and with written procedures adopted by the Trustees in connection with such orders, which shall be binding on all Participants, Beneficiaries and other parties. In no event shall the existence or enforcement of a Qualified Domestic Relations Order cause the Fund to pay benefits with respect to a Participant in excess of the Actuarial Present Value of the Participant's benefits without regard to the Qualified Domestic Relations Order, and benefits otherwise payable under the Plan shall be reduced by the Actuarial Present Value of any payment ordered to be made under a Qualified Domestic Relations Order. The Annuity Starting Date for an alternate payee under a QDRO shall be determined as stated in Section 1.3.a., except that references to the Qualified Joint and Survivor Pension and spousal consent do not apply.
Non-Assignment of Benefits. (A) Each person who is, or who may become, entitled to benefits under the Annuity Plan is hereby restrained from selling, transferring, anticipating, assigning, hypothecating or otherwise disposing of his/her benefit, prospective benefit or any other rights or interest under the Plan, and the Board of Trustees shall not recognize, or be required to recognize, any such sale, transfer, anticipation, assignment, hypothecation or other disposition. Any such benefit, prospective benefit, right or interest shall not be subject in any manner to voluntary transfer or transfer by operation of law or otherwise, and shall be exempt from the claims of creditors or other claimants and from all orders, decrees, garnishments, executions or other legal or equitable process of proceedings to the fullest extent permissible by law. Notwithstanding any of the foregoing, benefits shall be paid in accordance with applicable requirements of any “Qualified Domestic Relations Order”, as defined by Section 2.06(d)(3) of ERISA and Section 1.31 of this Plan.
Non-Assignment of Benefits. An eligible individual shall not have the right to assign, alienate, transfer, sell, hypothecate, mortgage, encumber, pledge, commute, or anticipate any benefit payment hereunder. Benefits hereunder shall not be subject to levy or execution or attachment or garnishment.
Non-Assignment of Benefits. The Annual Payments provided under this Agreement may not be assigned by Xxxxxxxx to any third party except as provided under paragraph 5.
Non-Assignment of Benefits. A Covered Individual’s claim for Dental Benefits under this Contract is expressly non-assignable and non-transferable in whole or in part to any person or entity including any Dentist at any time. DDIL shall make benefit payments for services rendered by a Dentist who participates in a Delta Dental network directly to that Dentist and the right to receive that payment shall not be assignable or transferable. DDIL shall make benefit payments for services rendered by a Dentist who does not participate in a Delta Dental network directly to the Subscriber and the right to receive such payment shall not be assignable or transferable.
Non-Assignment of Benefits. No amounts credited to the Account and no payments to be made hereunder may be assigned, sold, transferred, pledged, charged, commuted, encumbered or otherwise alienated by Employee, to the extent permitted by law, and no such amount or payment shall in any way be subject to any legal process or subject to the payment of any claims against the Employee. In no event shall the Employee have the right to recover any amounts of salary credited to the Account otherwise than in accordance with this agreement.
Non-Assignment of Benefits. Benefits paid under the Plan are for the sole use of Plan Participants. Except as required by law, benefits provided under the Plan cannot be assigned, transferred or pledged to anyone as collateral for a debt or other obligation.
Non-Assignment of Benefits. Neither Xx. Xxxxxxx nor Xxx. Xxxxxxx may assign, anticipate, alienate, commute, pledge, or encumber any benefits to which they may become entitled under this Agreement, nor may the same be subject to attachment or garnishment by any creditor's claim or to legal process.
Non-Assignment of Benefits. Neither the Executive, his spouse (if any), his designated beneficiaries (if any) or his estate shall have any right to alienate, pledge, hypothecate, encumber or dispose of the right to receive payments under this Agreement, nor shall such payments be subject to pledge, attachment or claims of creditors. Such payments and the rights thereto are expressly declared to be nonassignable and nontransferable. In the event of any attempted assignment of transfer, the Bank shall not be bound thereby and may fully discharge its obligations under this Agreement by making the payments provided for in this Agreement to the parties designated herein.
