Common use of Payments to Estate Clause in Contracts

Payments to Estate. In the event of death prior to retirement, the balance of the individual account, including employee contributions and any portion of Employer contributions which are vested in accordance with 6 above, will be paid in cash to the estate or to the designated beneficiary, or transferred to the designated beneficiary's RRSP if permitted by the Income Tax Act. Contributions made on and after January 1, 1999, shall be locked in if the employee was vested at death and the spouse is the beneficiary.

Payments to Estate. In the event of death prior to retirement, the balance of the individual account, including employee contributions and any portion of Employer contributions which are vested in accordance with 6 above, will be paid in cash to the estate or to the designated beneficiary, or transferred to the designated beneficiary's RRSP if permitted by the Income Tax Act. Contributions made on and after January 1, 1999, shall be locked in if the employee was vested at death and the spouse is the beneficiary.

Payments to Estate. In the event of death prior to retirement, the balance of the individual account, including employee contributions and any portion of Employer contributions which are vested in accordance with 6 above, will be paid in cash to the estate or to the designated beneficiary, or transferred to the designated beneficiary's beneficiarys RRSP if permitted by the Income Tax Act. Contributions made on and after January 1, 1999, shall be locked in if the employee was vested at death and the spouse is the beneficiary.