Other benefit forms Sample Clauses
The "Other benefit forms" clause defines the types of benefits, aside from standard options, that may be available to a participant under a plan or agreement. It typically outlines alternative methods of receiving benefits, such as lump-sum payments, annuities, or installment distributions, and may specify eligibility criteria or procedures for selecting these forms. This clause ensures flexibility in how benefits are provided, accommodating diverse participant needs and clarifying the available options to prevent misunderstandings.
Other benefit forms. In the case of a benefit payable in a form other than the form described in subsection (a) above, an amount of the Employer-provided portion of benefit payments for a calendar month in which the Employee is employed in section 203(a)(3)(B) service, equal to the lesser of:
(i) The amount of benefits which would have been payable to the Employee if he had been receiving monthly benefits under the Plan since actual retirement based on a straight life annuity commencing at actual retirement age;
(ii) The actual amount paid or scheduled to be paid to the Employee for such month. Payments which are scheduled to be paid less frequently than monthly may be converted to monthly payments for purposes of the above sentence.
Other benefit forms. In the case of a benefit payable in a form other than the form described in subsection (a) above, an amount of the Employer-provided portion of benefit payments for a calendar month in which the Employee is employed in section 203(a)(3)(B) service, equal to the lesser of: