Qualified Joint and Survivor. Annuity means, with respect to a married MPC Participant, an immediate annuity that can purchased with the balance of the MPC Participant’s MPC Money Purchase Account to be withdrawn or distributed and that would be payable over the joint life expectancies of the MPC Participant and the Spouse, with a survivor annuity payable for the life of the Spouse in an amount equal to fifty percent (50%), or such greater percentage as elected by the MPC Participant but not more than one hundred percent (100%), of the amount payable during the MPC Participant’s lifetime. With respect to an unmarried MPC Participant, a Qualified Joint and Survivor Annuity means an annuity for the life of the MPC Participant that can be purchased with the balance of the MPC Participant’s MPC Money Purchase Account to be withdrawn or distributed. For the avoidance of doubt, with respect to a married MPC Participant, the automatic Qualified Joint and Survivor Annuity will be a 50% joint and survivor annuity.
Qualified Joint and Survivor. Annuity shall mean a 50% joint and survivor annuity with the Participant’s spouse as the Participant’s joint and survivor annuitant. The Qualified Joint and Survivor Annuity for a married Participant shall be at least the Actuarial Equivalent, determined under the applicable factors of Section 7.1, of the Participant’s Accrued Benefit.
Qualified Joint and Survivor. Annuity means an immediate annuity for the life of the Participant and Qualified Spouse under which the monthly amount of the survivor annuity for the life of the Qualified Spouse (if surviving) is fifty percent (50%) of the monthly amount of the annuity payable during the joint lives of such Participant and the Qualified Spouse, and which is the Actuarial Equivalent of a Single Life Annuity for the Participant (or, if greater, the Actuarial Equivalent of any optional form of benefit available to the Participant under the Plan).
Qualified Joint and Survivor. ANNUITY [check if desired]: The amount of the survivor annuity shall be 100% of the amount payable during the joint lives of the participant and his spouse. [If not checked, the percentage of the survivor annuity shall be 50%.)
