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
Post-Retirement Death Benefits. (a) If a married Participant who is receiving benefits in the form of a Qualified Joint and Survivor Annuity [or in the form of any joint and survivor annuity for the Participant and Qualified Spouse under the Social Security (Level Income) Option or the Lump Sum Payment Option] dies before he has been paid a total of sixty (60) monthly benefit payments in the case of a Local Union No. 3 Retiree, or for a period of seventy-two (72) months in the case of a Participant who would be classified as a Local Union No. 772 Retiree (for benefits accrued on and after January 1, 2010, sixty (60) months), the Participant’s surviving Qualified Spouse shall receive monthly benefit payments each equal to fifty (50%) percent of the monthly benefit payment being made to the Participant at the time of his death. Such monthly benefit payments shall supplement the survivor annuity benefit to which the Qualified Spouse is otherwise entitled by virtue of the Participant’s death. Supplemental monthly benefit payments to the deceased Participant’s surviving Qualified Spouse shall continue until a total of sixty (60) monthly benefit payments in the case of a Local Union No. 3 Retiree, or for a period of seventy- two (72) months in the case of a Participant who would be classified as a Local Union No. 772 Retiree (for benefits accrued on and after January 1, 2010, sixty (60) months), have been made to the Participant and the surviving Qualified Spouse.
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. If you die after pension payments start, the amount of benefit payable to your Spouse, Same Sex Partner or beneficiary, as applicable, will depend on the form of pension you had chosen. If you had not chosen one of the options, the normal form of pension payment would apply. WHAT ELSE YOU SHOULD KNOW Plan Admin ration The Company is responsible for establishing the administration of the Plan. The Administrator will supply you with all the necessary forms for applying for benefits. Continuation of the Plan If the Plan is ever terminated, the Administrator will allocate and distribute the assets of the trust fund in accordance with the applicable government legislation. Cove ment Benefits The benefits described above are in addition to your government benefits. The maximum pension payable from the Canada Pension Plan for a person retiring at age in is per month. The Old Age Security Pension at January amounts to per month. These amounts are based on current law and on the assumption you will be fully eligible for these benefits. of Benefits The Plan is designed to ensure that you receive an income at retirement. For this reason you may not assign any of its benefits other than by naming a beneficiary except where division of benefits is permitted under applicable provincial or federal legislation determined pursuant to a marriage breakdown order or a written separation agreement issued under a provincial matrimonial property act. Pension Statement You will receive annually a personal statement showing your accrued retirement pension earned to date and your estimated retirement pension commencing on your normal retirement date. Remember This booklet is for your convenience only. It is intended to tell you about the main provisions of the Pension Plan. Not all details are included. If you have any questions on the Pension Plan or on your individual situation, contact your Human Resources Department. fe Maritime Li CANADA INC. Your Group Benefit Plan ISSUED DATE: APRIL TORONTO PLAN RETIRED EMPLOYEES YOUR GROUP BENEFITS CANADA INC. TORONTO RETIRED EMPLOYEES GROUP CONTRACT NUMBER: DATE REFER TO MASTER CONTRACT ELIGIBILITY PERIOD: Nil. You can contact Maritime Life at (0-000-000-0000) In the Toronto area, (905) or visit our web site at: IMPORTANT INFORMATION material summarizes the important features of your group benefit plan. booklet is prepared as only, and does not, in itself, constitute a contract. The exact terms and conditions of your group benefits are in ...
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.
