Optional Forms of Benefits. (a) The following optional forms of benefits which have been selected by the Employer in the Adoption Agreement are available under this Plan:
(1) A single sum;
(2) Installments over a period not to exceed the life expectancy of the Participant, or if applicable, the joint and last survivor expectancies of the Participant and the Participant's Designated Beneficiary;
(3) Over the life of the Participant or the joint lives of the Participant and Designated Beneficiary;
(4) A joint and survivor annuity; or
(5) Any combination of (1) through (4) above, including ad hoc payments.
(b) Notwithstanding Section 10.06(a) above, or any other provision of this Plan, or the selections in the Adoption Agreement, if this Plan is a restatement of a prior plan of the Employer or includes assets which were transferred from another qualified plan, any optional forms of benefits which were permitted under the previous plan cannot be reduced, eliminated or made subject to employer discretion unless specifically permitted under Treasury Regulations, and will therefore be available under this Plan.
(c) Notwithstanding any provision of this Plan to the contrary, to the extent that any optional form of benefit under this Plan permits a distribution prior to the employee's retirement, death, disability, or severance from employment, and prior to plan termination, the optional form of benefit is not available with respect to benefits attributable to assets (including the post-transfer earnings thereon) and liabilities that are transferred, within the meaning of section 414(l) of the Internal Revenue Code, to this Plan from a Money Purchase Pension Plan qualified under section 401(a) of the Code (other than any portion of those assets and liabilities attributable to voluntary employee contributions). This 10.06(c) is effective for Plan Years beginning on or after December 12, 1994.
Optional Forms of Benefits. 115(a) A Participant who is entitled to receive a benefit under Section 2, 3, 4 or 5 of Article V may, in the alternative, elect by a notice in writing, filed during the one hundred eighty (180) day 113 AMENDED – Amendment LXXIV, December 11, 2008, retroactively effective January 1, 2008. 114 ADDED – Amendment IX, April 24, 1996, effective May 1, 1996. AMENDED –Amendment LXXIV, December 11, 2008, retroactively effective January 1, 2008. 115 AMENDED – Amendment VI, August 31, 1994, effective October 1, 1994. AMENDED – Amendment XXIX, February 23, 2000, effective August 1, 2000. 1993 Restated Trust Agreement (Inclusive of Amendments I through XCIII) period described in Article VI, Section 2, to receive in lieu of such benefit a Joint and 100% Survivor Pension, a Joint and 75% Survivor Pension, a Ten-Years-Certain and Life Benefit or a cash lump sum in accordance with the rules set forth below. Except as provided in subsection (d) or if the Participant is not required to retire concurrently under the Pension Plan, no election under this Plan is valid unless the same election is made under the Pension Plan, provided, however, that an election of a Joint and 100% Survivor Pension or Qualified Joint and 50% Survivor Annuity under this Plan shall be valid if the Participant elects the 100% Pop-Up Pension or 50% Pop-Up Pension, respectively, under the Pension Plan. The Joint and 75% Pension shall also be available with respect to Special Accounts under any Profit Sharing Plan Merger Agreement. 116(b) (1) The amount of the Joint and 100% Survivor Pension shall be the monthly amount provided by the annuity under Article VI, Section 1. The Joint and 100% Survivor Pension shall consist of equal payments to be made on the first day of each month starting with the Pensioner's Benefit Commencement Date and continuing thereafter through the payment made on the first day of the month in which the death of the survivor of the Pensioner and Joint Annuitant occurs.
Optional Forms of Benefits. The optional forms of benefits under this Plan is any form of benefit indicated in Sections 3.15, 5.5 and 5.10, and any other section indicating an optional benefit. Unless otherwise specified, any optional form of benefit under this Plan is intended to be at least the actuarial equivalent of the Participant's nonforfeitable accrued benefit payable at Normal Retirement Age or, if later, the Participant's Annuity Starting Date.
Optional Forms of Benefits. Half (50%) joint and survivor annuity Full (100%) joint and survivor annuity
Optional Forms of Benefits. Actuarial assumptions for purposes of determining the Present Value of optional forms of benefit shall be as follows: Mortality Pre-retirement: None Set Back: None Interest: 7 Mortality Post-retirement: 1971 Individual Annuity Mortality Table for Males Set Back: 3 Years Interest: 6
Optional Forms of Benefits. Joint annuities above fifty percent (50%); level income, lump sum.
Optional Forms of Benefits. Subject to the available optional forms and spousal consent requirements, employees may reduce their total retirement income in order, at equal cost, to increase the percentage of survivor income, or to provide other forms of installment or lump-sum death benefits which best suit their needs.
Optional Forms of Benefits. The Optional Forms of Benefit are described in this Section 6.2(b). Each Optional Form of Benefit shall be actuarially adjusted as described below:
Optional Forms of Benefits. (a) In lieu of the 180-month installment form of payment, with the Committee’s approval in its sole discretion, the Executive may elect an Actuarial Equivalent to be paid in the form of a single lump sum payment, provided that (i) such election shall become irrevocable two years prior to the date on which the Executive retires or otherwise terminates employment and (ii) such election would not constitute an acceleration of benefits within the meaning of Section 409A(a)(3) of the Code or otherwise result in the imposition of any additional tax under Section 409A(a)(1)(B) of the Code.
(b) In lieu of the 180-month installment form of payment, the Committee, in its sole discretion, may elect to pay such Actuarial Equivalent in a single lump sum or in substantially equal monthly payments over a period of time not to exceed 60 months, provided that such election shall not be effective unless the Company has delivered to the Executive, not less than 30 days prior to the proposed effective date of such election, an opinion of counsel in form and substance reasonably acceptable to the Executive to the effect that such election would not constitute an acceleration of benefits within the meaning of Section 409A(a)(3) of the Code or otherwise result in the imposition of any additional tax under Section 409A(a)(1)(B) of the Code.
Optional Forms of Benefits. In lieu of the 180-month installment form of payment, with the Committee’s approval in its sole discretion, the Executive may elect an Actuarial Equivalent to be paid in the form of a single lump sum payment, provided that such election shall become irrevocable two years prior to the date on which the Executive retires or otherwise terminates employment. The Committee, in its sole discretion, may elect to pay such Actuarial Equivalent in substantially equal monthly payments over a period not to exceed 60 months.
