Common use of Qualified Preretirement Survivor Annuity Clause in Contracts

Qualified Preretirement Survivor Annuity. (1) Upon the death of a married Participant before the Participant’s Annuity Starting Date, such deceased Participant’s surviving Qualified Spouse will become entitled to receive a death benefit in the form of a Qualified Preretirement Survivor Annuity based upon the Participant’s Vested Benefit (if any), unless the surviving Qualified Spouse elects an alternative death benefit under the remaining provisions of this Section. (2) If the Participant dies after attaining the Earliest Retirement Age, the surviving Qualified Spouse may elect to have payments under any Qualified Preretirement Survivor Annuity to which she may be entitled commence within a reasonable time after the Participant’s death. Payments which begin later than the date on which payments to the surviving Qualified Spouse would otherwise have commenced under the terms of this subparagraph shall be actuarially adjusted to reflect delayed commencement of payments in accordance with the provisions of Section 1.02. (3) If the Participant dies before attaining the Earliest Retirement Age, the surviving Qualified Spouse will begin to receive any Qualified Preretirement Survivor Annuity payments to which she may be entitled at the Participant’s Earliest Retirement Age, subject to her application for the same. Benefit payments beginning after the Participant’s Earliest Retirement Age will be actuarially adjusted to reflect delayed commencement of payments in accordance with the provisions of Section 1.02. (4) Notwithstanding anything in the Plan to the contrary, the Qualified Preretirement Survivor Annuity benefit provided by this paragraph (a) shall be forfeited if the Qualified Spouse dies before the Participant’s Earliest Retirement Age. Similarly, if the Qualified Spouse survives past the Participant’s Earliest Retirement Age, the Qualified Preretirement Survivor Annuity benefit shall be forfeited if the Qualified Spouse dies before payment commences.

Qualified Preretirement Survivor Annuity. (1i) Upon Unless either paragraph (ii) below applies or the death of a married Participant before the Participant’s Annuity Starting Date, such deceased Participant’s surviving Qualified Spouse will become entitled to receive a death benefit in the has selected an optional form of distribution within the Election Period pursuant to a Qualified Preretirement Survivor Annuity based upon the Participant’s Vested Benefit (Election or a Special Qualified Election, if any), unless the surviving Qualified Spouse elects an alternative death benefit under the remaining provisions of this Section. (2) If the Participant dies after attaining the Earliest Retirement Age, the surviving Qualified Spouse may elect to have payments under any Qualified Preretirement Survivor Annuity to which she may be entitled commence within a reasonable time after the Participant’s death. Payments which begin later than the date on which payments to the surviving Qualified Spouse would otherwise have commenced under the terms of this subparagraph shall be actuarially adjusted to reflect delayed commencement of payments in accordance with the provisions of Section 1.02. (3) If the Participant dies before attaining the Earliest Retirement Ageearlier of (A) his or her Annuity Starting Date or (B) his or her First Required Distribution Date, then the surviving Qualified Spouse will begin to receive any Qualified Preretirement Survivor Annuity payments to which she may be entitled at Trustee shall, upon the direction of the Administrator, apply 50% of the Participant’s Earliest Retirement Age, subject to her application 's Vested Account Balance toward the purchase of an annuity contract for the same. Benefit payments beginning after life of the Participant’s Earliest Retirement Age will be actuarially adjusted to reflect delayed commencement of payments in accordance with Spouse. (ii) Notwithstanding the provisions of Section 1.02. paragraph (4i) Notwithstanding anything in the Plan above, prior to the contraryearlier of (A) Xxxxxx's Annuity Starting Date or (B) the Spouse's First Required Distribution Year, the Spouse of a Participant may deliver a written election to the Administrator whereby the Spouse elects not to have 50% of the Participant's Vested Account Balance applied toward the purchase of an annuity contract for the Spouse's life. Similarly, after the earlier of (A) the Spouse's Annuity Starting Date or (B) the Spouse's First Required Distribution Year, the Spouse may deliver a written election to the Administrator whereby the Spouse elects to terminate distributions pursuant to the Qualified Preretirement Survivor Annuity benefit provided by this paragraph (a) shall be forfeited if and to receive the Qualified Spouse dies before liquidated value of the Participant’s Earliest Retirement Age. Similarly, if the Qualified Spouse survives past the Participant’s Earliest Retirement Age, remainder of the Qualified Preretirement Survivor Annuity benefit in an alternative form. In the case where a Spouse makes either of such elections, the portion of the deceased Participant's Vested Account Balance which would otherwise have been distributed pursuant to this subsection shall be forfeited if distributed pursuant to the provisions of subsection (b) below. (iii) In the case of a Spouse of a deceased Participant who is scheduled to receive a Qualified Preretirement Survivor Xxxxxxx and who does not otherwise elect, at the instruction of the Administrator, the Trustee shall apply 50% of the deceased Participant's Vested Account Balance toward an annuity under which payments begin as of the later of the Participant's separation from Service or (what would have been) the Participant's Normal Retirement Date. A Spouse dies before payment commencesof a deceased Participant may elect a commencement date which is earlier than the date discussed in the previous sentence by filing a written election to that effect with the Administrator; the Trustee shall begin to make payments on such earlier date upon instruction from the Administrator.

Qualified Preretirement Survivor Annuity. (1i) Upon Unless either paragraph (ii) below applies or the death Participant has selected an optional form of distribution within the Election Period pursuant to a Qualified Election or a Special Qualified Election, if the Participant dies before the earlier of (A) his or her Annuity Starting Date or (B) his or her First Required Distribution Date, then the Trustee shall, upon the direction of the Administrator, apply 50% of the Participant's Vested Account Balance (i.e., 50% of each of the Participant's vested Employer Profit Sharing Contribution Account, Employer Matching Contribution Account, Nondeductible Voluntary Contribution Account, Deductible Voluntary Contribution Account and Rollover Account) toward the purchase of an annuity contract for the life of the Spouse. (ii) Notwithstanding the provisions of paragraph (i) above, prior to the earlier of (A) Spouse's Annuity Starting Date or (B) the Spouse's First Required Distribution Year, the Spouse of a married Participant before may deliver a written election to the Administrator whereby the Spouse elects not to have 50% of the Participant’s 's Vested Account Balance applied toward the purchase of an annuity contract for the Spouse's life. Similarly, after the earlier of (A) the Spouse's Annuity Starting DateDate or (B) the Spouse's First Required Distribution Year, the Spouse may deliver a written election to the Administrator whereby the Spouse elects to terminate distributions pursuant to the Qualified Preretirement Survivor Annuity and to receive the liquidated value of the remainder of the Qualified Preretirement Survivor Annuity in an alternative form. In the case where a Spouse makes either of such elections, the portion of the deceased Participant’s surviving Qualified 's Vested Account Balance which would otherwise have been distributed pursuant to this subsection shall be distributed pursuant to the provisions of subsection (b) below. (iii) In the case of a Spouse will become entitled of a deceased Participant who is scheduled to receive a death benefit in the form of a Qualified Preretirement Survivor Annuity based upon and who does not otherwise elect, at the instruction of the Administrator, the Trustee shall apply 50% of the deceased Participant's Vested Account Balance toward an annuity under which payments begin as of the later of the Participant’s Vested Benefit 's separation from Service or (if any), unless what would have been) the surviving Qualified Participant's Normal Retirement Date. A Spouse elects an alternative death benefit under the remaining provisions of this Section. (2) If the a deceased Participant dies after attaining the Earliest Retirement Age, the surviving Qualified Spouse may elect to have payments under any Qualified Preretirement Survivor Annuity to a commencement date which she may be entitled commence within a reasonable time after the Participant’s death. Payments which begin later is earlier than the date on which payments discussed in the previous sentence by filing a written election to the surviving Qualified Spouse would otherwise have commenced under the terms of this subparagraph shall be actuarially adjusted to reflect delayed commencement of payments in accordance that effect with the provisions of Section 1.02. (3) If Administrator; the Participant dies before attaining the Earliest Retirement Age, the surviving Qualified Spouse will Trustee shall begin to receive any Qualified Preretirement Survivor Annuity make payments to which she may be entitled at on such earlier date upon instruction from the Participant’s Earliest Retirement Age, subject to her application for the same. Benefit payments beginning after the Participant’s Earliest Retirement Age will be actuarially adjusted to reflect delayed commencement of payments in accordance with the provisions of Section 1.02Administrator. (4) Notwithstanding anything in the Plan to the contrary, the Qualified Preretirement Survivor Annuity benefit provided by this paragraph (a) shall be forfeited if the Qualified Spouse dies before the Participant’s Earliest Retirement Age. Similarly, if the Qualified Spouse survives past the Participant’s Earliest Retirement Age, the Qualified Preretirement Survivor Annuity benefit shall be forfeited if the Qualified Spouse dies before payment commences.

Qualified Preretirement Survivor Annuity. (1i) Upon Unless either paragraph (ii) below applies or the death of a married Participant before the Participant’s Annuity Starting Date, such deceased Participant’s surviving Qualified Spouse will become entitled to receive a death benefit in the has selected an optional form of distribution within the Election Period pursuant to a Qualified Preretirement Survivor Annuity based upon the Participant’s Vested Benefit (Election or a Special Qualified Election, if any), unless the surviving Qualified Spouse elects an alternative death benefit under the remaining provisions of this Section. (2) If the Participant dies after attaining the Earliest Retirement Age, the surviving Qualified Spouse may elect to have payments under any Qualified Preretirement Survivor Annuity to which she may be entitled commence within a reasonable time after the Participant’s death. Payments which begin later than the date on which payments to the surviving Qualified Spouse would otherwise have commenced under the terms of this subparagraph shall be actuarially adjusted to reflect delayed commencement of payments in accordance with the provisions of Section 1.02. (3) If the Participant dies before attaining the Earliest Retirement Ageearlier of (A) his or her Annuity Starting Date or (B) his or her First Required Distribution Date, then the surviving Qualified Spouse will begin to receive any Qualified Preretirement Survivor Annuity payments to which she may be entitled at Trustee shall, upon the direction of the Administrator, apply 50% of the Participant’s Earliest Retirement Age, subject to her application 's Vested Account Balance toward the purchase of an annuity contract for the same. Benefit payments beginning after life of the Participant’s Earliest Retirement Age will be actuarially adjusted to reflect delayed commencement of payments in accordance with Spouse. (ii) Notwithstanding the provisions of Section 1.02. paragraph (4i) Notwithstanding anything in the Plan above, prior to the contraryearlier of (A) Spouse's Annuity Starting Date or (B) the Spouse's First Required Distribution Year, the Spouse of a Participant may deliver a written election to the Administrator whereby the Spouse elects not to have 50% of the Participant's Vested Account Balance applied toward the purchase of an annuity contract for the Spouse's life. Similarly, after the earlier of (A) the Spouse's Annuity Starting Date or (B) the Spouse's First Required Distribution Year, the Spouse may deliver a written election to the Administrator whereby the Spouse elects to terminate distributions pursuant to the Qualified Preretirement Survivor Annuity benefit provided by this paragraph (a) shall be forfeited if and to receive the Qualified Spouse dies before liquidated value of the Participant’s Earliest Retirement Age. Similarly, if the Qualified Spouse survives past the Participant’s Earliest Retirement Age, remainder of the Qualified Preretirement Survivor Annuity benefit in an alternative form. In the case where a Spouse makes either of such elections, the portion of the deceased Participant's Vested Account Balance which would otherwise have been distributed pursuant to this subsection shall be forfeited if distributed pursuant to the Qualified Spouse dies before payment commencesprovisions of subsection (b) below.