Normal Form of Benefit. If a member does not have a spouse at his or her retirement date, the member's monthly benefit will be payable for life, with the guarantee that if the member dies before 60 monthly payments are made, the remaining payments will be made to the member's beneficiary. If a member has a spouse at his or her retirement date, the Plan provides that upon the member's death, 60% of the monthly pension will continue to be paid to the spouse as long as the spouse is alive. The initial monthly pension will automatically be reduced 10% to provide this benefit unless prior to retirement the member and the member's spouse choose to opt out by submitting a Spouse Pension Waiver which requires the witnessed signature of the member's spouse. Should the member's spouse pre-decease the member, the monthly payments, beginning with the first one due after the spouse's death, will not be reduced by the 10% set out above.
Normal Form of Benefit. Except as otherwise provided in the applicable Supplement, a Participant’s benefit shall be paid in the form of a 100% Joint and Survivor’s Annuity, with the Participant’s spouse as joint annuitant if the Participant is married on the Annuity Starting Date, and in the form of an Individual Life Annuity if the Participant is not married on the Annuity Starting Date, unless the Participant elects not to receive payments pursuant to this Section 6.1 and to receive payments in one of the optional forms permitted under Section 6.2. An election not to receive the normal form of benefit and to receive payment in an optional form shall satisfy the applicable requirements of Section 6.3.
Normal Form of Benefit. A Participant’s benefit shall be paid in the form of a 50% Joint and Survivor’s Annuity, with the Participant’s spouse as joint annuitant if the Participant is married on the Annuity Starting Date, and in the form of an Individual Life Annuity if the Participant is not married on the Annuity Starting Date, unless the Participant elects, in accordance with Section 6.3, not to receive payment in the normal form and to receive payment in one of the permitted optional forms.
Normal Form of Benefit. The normal form of benefit shall be a 50% Joint and Survivor’s Annuity with the Participant’s spouse as joint annuitant if he is married on the Annuity Starting Date, and an Individual Life Annuity if he is not married on the Annuity Starting Date.
Normal Form of Benefit. The benefits determined in this Section are payable at Normal Retirement Date as a:
o a. life annuity o b. if married, joint and % survivor annuity (50% to 100%) with spouse as beneficiary, if single: SAMPLE o x.0.xxxx annuity o b.2.joint and survivor annuity assuming spouse is same age as Participant o x.0.xxxx annuity guaranteed for year (not to exceed 20) o c. joint and % survivor annuity (50% to 100%) with any beneficiary o d. life annuity with a certain period of years (not to exceed 20)
Normal Form of Benefit. The normal form of benefit is payable annually for 20 years during the lifetime of the Member, whom failing the Spouse of the Member. In the event neither the Member or Spouse survives the 20 year period, the commuted value of the remaining payments shall be payable to the Beneficiary of the Member.
Normal Form of Benefit. The benefits determined in this Section are payable at Normal Retirement Date as a:
a. life annuity b. life annuity with a certain period of: b.1. 5 years b.2. 10 years b.3. 15 years b.4. 20 years
Normal Form of Benefit. If the Participant is unmarried on the date ---------------------- benefits commence, the benefit shall be payable in the form of a single life annuity for the Participant's life. Such benefit shall be payable in monthly installments equal to one-twelfth (1/12) of the amount determined under Section 2a.
Normal Form of Benefit. Single Life, Guaranteed 10 years. Where required by pension legislation an actuarially reduced Joint & Survivor benefit will be provided, unless waived by the spouse in writing. Normal Retirement Date: Age 65.
Normal Form of Benefit. The normal form of benefit for an unmarried Member shall be a single life annuity. The normal form of benefit for a married Member shall be a Qualified Joint and Survivor Annuity (as defined below) unless such Member, with the consent of his or her Spouse, elects otherwise. A Qualified Joint and Survivor Annuity shall mean a retirement benefit which is the Actuarial Equivalent Value of a single life annuity based on the Member’s Early Retirement, Normal Retirement or Postponed Retirement Benefit (as the case may be), under which equal monthly installments are payable during the lifetime of the Member, and, should the Member predecease his or her Spouse, fifty percent (50%) (or, effective for distributions with annuity starting dates on or after January 1, 2008, seventy five percent (75%) if elected by the Spouse) of the amount of such installments will continue to be paid monthly to the Spouse for the remainder of the Spouse’s lifetime.
