Purchase of Annuities Sample Clauses

Purchase of Annuities. 26.1 The Trustees may at their discretion instead of providing the whole or any part of any entitlement or prospective entitlement to benefits under the Scheme apply an amount not exceeding the value as determined by the the Trustees on the advice of the Actuary of such benefits in the purchase of an insurance policy or annuity contract in accordance with the provisions of this Rule.
Sample 1
AutoNDA by SimpleDocs
Purchase of Annuities. 2 2.02 Report of Annuities.................................................... 2
Sample 1
Purchase of Annuities. Annuities may be purchased under this Contract prior to the Discontinuance Date.
Sample 1
Purchase of Annuities. The entity that is the Plan sponsor as of the date the Settlement Agreement is fully executed shall on the first Business Day thereafter cause the Plan to purchase insurance company annuities for Participants whose retirement from the Company became effective before October 29, 1992 and who terminated service with the Company before October 29, 1992 (provided that the number of retirements effective between September 18, 1992 and October 29, 1992, including without limitation retirements of Disability Participants under the next sentence, shall not exceed 60 participants under the Plan). In the event that the disability retirement date of certain Participants ("Disability Participants") is determined to have been effective before October 29, 1992, the Plan sponsor at the time that determination is made shall, as soon as practicable after receiving notice of such determination from the Association, cause the Plan to transfer assets to an insurance company to purchase insurance company annuities for Disability Participants who terminated service with the Company before October 29, 1992, subject, however, to the limitations applicable under the preceding sentence with respect to retirements effective between September 18, 1992 and October 29, 1992.
Sample 1
Purchase of Annuities 
Sample 1Sample 2Sample 3See All (5)

Related to Purchase of Annuities

  • INSTRUCTIONS FOR COMPLETING REPAYMENT ELECTION FORM AND EXERCISING REPAYMENT OPTION Capitalized terms used and not defined herein have the meanings defined in the accompanying Repayment Election Form.

  • Fixed Annuity 10 1.16 Fund(s) ........................................................... 10 1.17

  • ANNUITY PAYMENT OPTIONS a. Life Annuity / Life Annuity with Certain Period -- Fixed and/or Variable Annuity Payments will be made for the lifetime of the Annuitant with no Certain Period, or life and a 10 year Certain Period, or life and a 20 year Certain Period.

  • ANNUITY Payment of an income:

  • Life Annuity The monthly annuity shall be payable to the annuitant for as long as the annuitant lives, and shall end with the last monthly payment before the death of the annuitant.

  • Fixed Annuity Payments The minimum guaranteed income purchased per $1,000 of the net amount applied to a fixed annuity is based on an annual interest rate of 3% and the 1983a Mortality Table with the ages set back ten (10) years. Conversion to Current Rates – Annuity payments will be based on the greater of: • our current income factors in effect for this Contract on the Annuity Date; or • our guaranteed income factors. The dollar amount of any payments after the first annuity payment is specified during the annuity payment period according to the provisions of the elected Annuity Option.

  • Payment Options The exercise price shall be paid by one or any combination of the following forms of payment that are applicable to this option, as indicated on the cover page hereof:

  • ANNUITY UNIT A unit of measure used to determine the amount of variable payments under a variable payment plan and the value of the interest of a variable payment plan in the Separate Account.

  • ANNUITY PROVISIONS Choice of Annuity Date — Unless otherwise changed as provided below, the Annuity Date is shown in the Contract Specifications. We assigned the Annuity Date based on the Contract type chosen and the Annuitant’s Age shown in the application for this Contract. If there are Joint Annuitants, the Annuity Date was based on the younger Annuitant’s birthday. The Annuity Date may be changed by providing proper notice to us at least ten (10) Business Days prior to the current Annuity Date or new Annuity Date, whichever is earlier, subject to any applicable state law or the Code. The new Annuity Date may not be earlier than the first Contract Anniversary and must occur on or before the day the Annuitant reaches his or her 95th birthday, or earlier, as required by any applicable state law or the Code. If there are Joint Annuitants, the Annuity Date will be based on the younger Annuitant’s birthday. You may be subject to additional restrictions under your Qualified Plan. You should consult with your Qualified Plan administrator before you elect an Annuity Date.

  • JOINT AND SURVIVOR ANNUITY The Advisory Committee must direct the Trustee to distribute a married or unmarried Participant's Nonforfeitable Accrued Benefit in the form of a qualified joint and survivor annuity, unless the Participant makes a valid waiver election (described in Section 6.05) within the 90 day period ending on the annuity starting date. If, as of the annuity starting date, the Participant is married, a qualified joint and survivor annuity is an immediate annuity which is purchasable with the Participant's Nonforfeitable Accrued Benefit and which provides a life annuity for the Participant and a survivor annuity payable for the remaining life of the Participant's surviving spouse equal to 50% of the amount of the annuity payable during the life of the Participant. If, as of the annuity starting date, the Participant is not married, a qualified joint and survivor annuity is an immediate life annuity for the Participant which is purchasable with the Participant's Nonforfeitable Accrued Benefit. On or before the annuity starting date, the Advisory Committee, without Participant or spousal consent, must direct the Trustee to pay the Participant's Nonforfeitable Accrued Benefit in a lump sum, in lieu of a qualified joint and survivor annuity, in accordance with Section 6.01, if the Participant's Nonforfeitable Accrued Benefit is not greater than $3,500. This Section 6.04(A) applies only to a Participant who has completed at least one Hour of Service with the Employer after August 22, 1984.

Draft better contracts in just 5 minutes Get the weekly Law Insider newsletter packed with expert videos, webinars, ebooks, and more!