Common use of Period of Payment Clause in Contracts

Period of Payment. Monthly pension benefits shall commence on the Normal Retirement Date of the Participant and shall continue until the first of the month in which the retired Participant dies, unless an optional method of payment has been elected, in which case the monthly pension benefits shall be continued as provided for under the option elected.

Period of Payment. Monthly pension benefits shall commence on the Normal Retirement Date first of the Participant month coincident with or next following the Participant’s retirement and shall continue until the first of the month in which the retired Participant dies, unless an optional method of payment has been elected, in which case the monthly pension benefits shall be continued as provided for under the option elected.

Period of Payment. Monthly pension benefits shall commence on the Normal Retirement Date first of the Participant month coincident with or next following the Participant’s retirement and shall continue until the first of the month in which the retired Participant dies, unless an optional method of payment pay- ment has been elected, in which case the monthly pension benefits shall be continued as provided for under the option elected.