Post-Retirement Death Benefits. (a) If a Participant dies after he or she has begun receiving benefits from the Plan, the Participant’s Account shall be paid to the Participant’s Beneficiary (check one): X In accordance with the minimum required distribution rules under Code section 401(a)(9). □ In a single lump sum as soon as administratively practicable.
Post-Retirement Death Benefits. In the event that the Employee should die after becoming entitled to receive payments under Section I but before all such payments have been made, the Bank will make all remaining payments to such beneficiary or beneficiaries as the Employee has designated to the Bank in writing (the "Beneficiaries'). In the event of death of the last living Beneficiary before all unpaid payments have been made, the balance of any payments which remain unpaid at the time of the death of such Beneficiary shall be commuted on the basis of six percent (6%) per annum compounded interest and shall be paid in a single sum to the estate of the last Beneficiary to die. In the absence of such beneficiary designation, any amount remaining unpaid at the Employee's death shall be commuted on the basis of six percent (6%) per annum compounded interest and shall be paid in a single sum to the Employee's estate.
Post-Retirement Death Benefits. In the event that the Director --------- ------------------------------ should die after becoming entitled to receive monthly installment payments under this Agreement but before all remaining installment payments have been made, the Bank will pay all remaining installment payments to the Beneficiary or Beneficiaries. In the event of the death of the last living Beneficiary before all installment payments have been made, the balance of any payments which remain unpaid at the time of such Beneficiary's death shall be commuted on the basis of six percent (6%) per annum compounded interest and shall be paid in a single sum to the estate of the last Beneficiary to die. In the absence of such beneficiary designation, any payments remaining unpaid at the Director's death shall be commuted on the basis of six percent (6%) per annum compounded interest and shall be paid in a single a sum to the Director's estate.
Post-Retirement Death Benefits a. $500 Lump Sum 8. 2% Retirement COLA
Post-Retirement Death Benefits. For Members who retire after December 31, 1987, the Plan will be amended to provide that where the retiree has a spouse at the time of retirement, the Member will be deemed to have elected a pension which continues for the lifetime of the spouse following the death of the retiree at sixty (60) percent of the basic pension the retiree had been receiving. The amount of the pension will be the actuarial equivalent of the pension earned in the normal form. The provision may be waived within twelve (12) months prior to retirement if both the Member and the spouse agree in writing (see Normal Form of Pension and Alternative Elections).
Post-Retirement Death Benefits. Should the Participant die after he has begun to receive benefits under an annuity payment option, the guaranteed or remaining payments, if any, under the annuity payment option shall be payable to the Participant’s Beneficiary commencing with the first payment due after the death of the Participant. If the Beneficiary does not continue to live for the remaining period of payments under the annuity payment option, then the remaining benefits under the annuity payment option shall be paid to the Beneficiary’s beneficiary or, if none, the Beneficiary’s estate. Should the Participant die after he has begun to receive benefits under any other payment option, a death benefit equal to the value of the Participant’s Account shall be payable to the Beneficiary. Such death benefit shall be paid in a lump sum unless the Beneficiary elects a different payment option. Should the Beneficiary die before the completion of payments under an annuity payment option or before distribution of the entire Participant Account, then the value of the remaining payments under the annuity payment option, or the value of the Participant Account in a lump sum, respectively, shall be paid to the Beneficiary’s beneficiary or, if none, the Beneficiary’s estate. Payment to the Participant’s Beneficiary under this section must comply with Code Section 401(a)(9), and with any additional Code limitations applicable to the Plan. In no event shall the Employer be liable for any payments made in the name of Participant or a Beneficiary before the Employer or its agent receives proof of the death of the Participant or Beneficiary.
Post-Retirement Death Benefits. (a) Should the Participant die after he or she has begun to receive benefits, payments shall be made to the Participant's Beneficiary pursuant to the terms of the Adoption Agreement. Any different payment option elected by a Beneficiary under this Section 5.4 and the related provisions of the Adoption Agreement must provide for payments at a rate that is at least as rapid under the payment option that was applicable to the Participant. In no event shall the Employer or Plan Administrator be liable to the Beneficiary for the amount of any payment made in the name of the Participant before the Plan Administrator receives proof of death of the Participant.
Post-Retirement Death Benefits. A Participant who elects a joint and survivor annuity or a lifetime annuity with ten (10) years certain shall designate, in accordance with rules established by the Administrator, a Beneficiary who will receive benefits, if any, upon his death.
Post-Retirement Death Benefits. In the event that the Director --------- ------------------------------ should die after becoming entitled to receive monthly installment payments under Section 2, but before all of said installment payments shall have been made, the Bank will pay all remaining installment payments to such beneficiary or beneficiaries as the Director has designated in writing to the Bank ("Beneficiaries"). In the event of the death of the last living Beneficiary before all remaining installment payments shall have been made, the balance of any payments which remain unpaid at the time of such Beneficiary's death shall be commuted on the basis of six percent (6%) per annum compounded interest and shall be paid in a single sum to the estate of the last Beneficiary to die. In the absence of such beneficiary designation, any payments remaining unpaid at the Director's death shall be commuted on the basis of six percent (6%) per annum compounded interest and shall be paid in a single sum to the Director's estate.
