Other Annuity Form Sample Clauses

Other Annuity Form. The Executive may elect, in accordance with written procedures established by the Company for this purpose, to have the Pension paid in the following annuity forms under the Bunge U.S. Pension Plan (such plan, together with any successor or replacement plan(s), shall hereinafter be referred to as the “Retirement Plan”): (i) single life annuity, (ii) 100% qualified joint and survivor annuity, (iii) 75% qualified joint and survivor annuity, (iv) 00 0/0 xxxxxxxxx xxxxx xxx xxxxxxxx xxxxxxx, (x) 50% qualified joint and survivor annuity, (vi) single life annuity with a 10-year term certain payment option or (vii) 100% qualified joint and survivor annuity with a 10-year term certain payment option. If the Executive does not elect an annuity form, his Pension shall be paid in the form of the 100% qualified joint and survivor annuity with a 10-year term certain payment option. Such election may be changed by the Executive at any time by a subsequent election filed with the Company, as long as such subsequent election is filed with the Company at least 30 days prior to the Executive’s termination of employment with the Company (or such lesser period prior to such termination of employment as the Compensation Committee shall permit). For any annuity made under this Section 4.2 (other than a single life annuity commencing after the Executive attains age 65), actuarial equivalence shall be made and determined (i) in accordance with the factors and other relevant assumptions set forth in the Retirement Plan and (ii) to the extent actuarial equivalence for an annuity form is not specified in the Retirement Plan, based on actuarial assumptions reasonably established by the Company’s actuary for the Retirement Plan.
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Other Annuity Form. The Executive may elect, in accordance with written procedures established by the Company for this purpose, to have the Pension paid (a) in any annuity form permissible under the Bunge Management Services Inc. Pension Plan (such plan, together with any successor or replacement plan(s), shall hereinafter be referred to as the "Retirement Plan") over his life and the life of the person, if any, to whom the Executive is legally married at the time of his death (his "Surviving Spouse"), (b) as a single life annuity with a 10-year term certain payment option or (c) as a 100% qualified joint and survivor annuity with a 10-year term certain payment option. Such election shall be made by the Executive as soon as practicable after the Effective Date and may be changed at any time by a subsequent election filed with the Company, as long as such subsequent election is filed with the Company at least 12 months prior to the Executive's termination of employment with the Company (or such lesser period prior to such termination of employment as the Compensation Committee shall permit). For any annuity made under this Section 4.2 (other than a single life annuity commencing after the Normal Retirement Date), actuarial equivalence shall be made and determined (a) in accordance with the factors and other relevant assumptions set forth in the Retirement Plan and (b) to the extent actuarial equivalence for an annuity form is not specified in the Retirement Plan, based on actuarial assumptions reasonably established by the Company's actuary for the Retirement Plan.
Sample 1

Related to Other Annuity Form

  • ANNUITY Payment of an income:

  • Life Annuity The monthly annuity shall be payable to the annuitant for as long as the annuitant lives, and shall end with the last monthly payment before the death of the annuitant.

  • JOINT AND SURVIVOR ANNUITY The Advisory Committee must direct the Trustee to distribute a married or unmarried Participant's Nonforfeitable Accrued Benefit in the form of a qualified joint and survivor annuity, unless the Participant makes a valid waiver election (described in Section 6.05) within the 90 day period ending on the annuity starting date. If, as of the annuity starting date, the Participant is married, a qualified joint and survivor annuity is an immediate annuity which is purchasable with the Participant's Nonforfeitable Accrued Benefit and which provides a life annuity for the Participant and a survivor annuity payable for the remaining life of the Participant's surviving spouse equal to 50% of the amount of the annuity payable during the life of the Participant. If, as of the annuity starting date, the Participant is not married, a qualified joint and survivor annuity is an immediate life annuity for the Participant which is purchasable with the Participant's Nonforfeitable Accrued Benefit. On or before the annuity starting date, the Advisory Committee, without Participant or spousal consent, must direct the Trustee to pay the Participant's Nonforfeitable Accrued Benefit in a lump sum, in lieu of a qualified joint and survivor annuity, in accordance with Section 6.01, if the Participant's Nonforfeitable Accrued Benefit is not greater than $3,500. This Section 6.04(A) applies only to a Participant who has completed at least one Hour of Service with the Employer after August 22, 1984.

  • Qualified Joint and Survivor Annuity An immediate annuity for the life of the Participant with a survivor annuity for the life of the spouse which is not less than 50% and not more than 100% of the amount of the annuity which is payable during the joint lives of the Participant and the spouse and which is the amount of benefit which can be purchased with the Participant's vested account balance. The percentage of the survivor annuity under the Plan shall be 50% (unless a different percentage is elected by the Employer in the Adoption Agreement).

  • ANNUITY BENEFIT Payments under an Annuity Benefit will be made monthly. You may elect instead to have the Annuity Benefit paid at other intervals, such as every three months, six months, or twelve months, instead of monthly, subject to our rules at the time of your election or as otherwise stated in the Data Pages or any Endorsement attached hereto. This election may be made at the time the Annuity Benefit form as described in Section 8.04 is elected. In that event, all references in this Contract to monthly payments, with respect to the Annuity Benefit to which the election applies, will be deemed to mean payments at the frequency elected.

  • JOINT AND LAST SURVIVOR ANNUITY We will make Annuity Payments, payable at the frequency elected, during the joint lifetime of the Annuitant and the Joint Annuitant. Upon the death of either the Annuitant or Joint Annuitant, Annuity Payments will continue to be paid during the remaining lifetime of the survivor. Annuity Payments cease with the final Annuity Payment due prior to the last survivor's death. Option 4 -- Joint and Last Survivor Annuity with 10 Years of Annuity Payments Guaranteed -- We will make Annuity Payments, payable at the frequency elected, during the joint lifetime of the Annuitant and the Joint Annuitant. Upon the death of either the Annuitant or Joint Annuitant, Annuity Payments will continue to be paid during the remaining lifetime of the survivor. If at the last death of the Annuitant and the Joint Annuitant, there have been less than 10 years of Annuity Payments made as selected, Annuity Payments will continue to be made for the remainder of the Guaranteed Period. You may elect to have the present value of the guaranteed Variable Annuity Payments remaining, as of the date due proof of the Annuitant's death is received at our Annuity Service Office, commuted at the Assumed Investment Return selected. We will require the return of this Contract and proof of death prior to the payment of any commuted values. ANNUITY -- You can elect to have the Annuity Option payable as Fixed Annuity Payments or Variable Annuity Payments or a combination. Fixed Annuity Payments are guaranteed as to dollar amount. Variable Annuity Payments will reflect the investment experience of the Separate Account in accordance with the allocation of the Account Value to the Subaccounts. Unless another payee is designated, you will be the payee of the Annuity Payments. The Adjusted Account Value will be applied to the applicable Fixed and/or Variable Annuity Tables to determine your first Annuity Payment. The Adjusted Account Value is determined on the Annuity Calculation Date which is a Business Day no more than five Business Days prior to the Annuity Date. The Adjusted Account Value is the Account Value, less any Premium and Other Taxes or other applicable taxes and less the Account Fee. The amount of the first payment for each $1,000 of Adjusted Account Value is shown in the Annuity Tables. FIXED ANNUITY -- Fixed Annuity Payments are based upon the Annuity Option elected, the Annuitant's Attained Age and sex, and the appropriate Fixed Annuity Option Table. If, as of the Annuity Calculation Date, the then-current Fixed Annuity Option rates applicable to this class of contracts provide an Annuity Payment greater than that which is guaranteed under the same Annuity Option under this Contract, then the greater payment will be made. The dollar amount of the first Variable Annuity Payment is determined as follows. The first Variable Annuity Payment will be based upon the Annuity Option elected, the Annuitant's Attained Age and sex, and the appropriate Variable Annuity Option Table. If, as of the Annuity Calculation Date, the then current Variable Annuity Option rates applicable to this class of Contracts provide a first Annuity Payment greater than that which is guaranteed under the same Annuity Option under this Contract, the greater payment will be made. The dollar amount of Variable Annuity Payments for each applicable Subaccount after the first payment is determined as follows:

  • ANNUITY PAYMENT OPTIONS a. Life Annuity / Life Annuity with Certain Period -- Fixed and/or Variable Annuity Payments will be made for the lifetime of the Annuitant with no Certain Period, or life and a 10 year Certain Period, or life and a 20 year Certain Period.

  • Fixed Annuity 10 1.16 Fund(s) ........................................................... 10 1.17

  • INSTRUCTIONS FOR COMPLETING REPAYMENT ELECTION FORM AND EXERCISING REPAYMENT OPTION Capitalized terms used and not defined herein have the meanings defined in the accompanying Repayment Election Form.

  • Death Benefit Should Employee die during the term of employment, the Company shall pay to Employee's estate any compensation due through the end of the month in which death occurred.

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