Common use of Trust Participant Clause in Contracts

Trust Participant. Upon death of an eligible individual who was previously employed in the Unit and separated from County service and became a participant of the Trust, the surviving spouse or domestic partner, if any, shall become their beneficiary who shall be entitled to the rights and benefits under the plan for the surviving spouse or domestic partner and any dependent(s) of the participant. In the event there is no spouse or domestic partner, or upon the death of the surviving spouse or domestic partner, the beneficiary shall be the participant's remaining dependent(s), if any. If there is no surviving spouse, domestic partner or dependents of the participant, the amounts on deposit in the participant's account shall become the property of the Trust, which shall be used for purposes of the plan, including administrative expenses or funding of additional plan benefits, if any.

Trust Participant. Upon death of an eligible individual who was previously employed in the Unit and separated from County service and became a participant of the Trust, the surviving spouse or domestic partner, if any, shall become their his/her beneficiary who shall be entitled to the rights and benefits under the plan for the surviving spouse or domestic partner and any dependent(s) of the participant. In the event there is no spouse or domestic partner, or upon the death of the surviving spouse or domestic partner, the beneficiary shall be the participant's remaining dependent(s), if any. If there is no surviving spouse, domestic partner or dependents of the participant, the amounts on deposit in the participant's account shall become the property of the Trust, which shall be used for purposes of the plan, including administrative expenses or funding of additional plan benefits, if any.