Beneficiary designation means the naming in a governing instrument of a beneficiary of an insurance or annuity policy, of an account with POD designation, of a security registered in beneficiary form (TOD), of a pension, profit-sharing, retirement, or similar benefit plan, or of another nonprobate transfer at death.
Beneficiary designation means a document specifying the Beneficiary/Beneficiaries who is/are to receive any part of the Participant's Account in the event of the Participant's death.
Beneficiary designation means an instrument, other than an instrument creating or amending a trust, naming the beneficiary of:
Examples of Beneficiary designation in a sentence
The Beneficiary designated under this Plan may be the same as or different from the Beneficiary designation under any other plan of an Employer in which the Participant participates.
The Executive’s Beneficiary designation shall be deemed automatically revoked if the Beneficiary predeceases the Executive or if the Executive names a spouse as Beneficiary and the marriage is subsequently dissolved.
The filing of a new Beneficiary designation form will cancel all Beneficiary designations previously filed.
Unless otherwise specified, each Beneficiary designation form the original IRA Beneficiary(ies) files with the Custodian will cancel all previous ones.
The consent of a Beneficiary(ies) shall not be required for the IRA Owner to revoke a Beneficiary designation.
More Definitions of Beneficiary designation
Beneficiary designation means an instrument, other than an instrument creating a trust, naming the beneficiary of an insurance or annuity policy; an account with a designation for payment on death; a security registered in beneficiary form; a pension, profit-sharing, retirement, or other employment-related benefit plan; or any other nonprobate transfer at death.
Beneficiary designation means a writing executed by the Participant pursuant to the following rules:
i. The Participant may, at any time, designate any Person or Persons as the Participant’s Beneficiary or Beneficiaries (both principal as well as contingent) to whom Payment under this Award Agreement will be made in the event of such Participant’s death prior to Payment due the Participant under this Award Agreement. Such designation may be changed at any time prior to the Participant’s death, without consent of any previously designated beneficiary. Any designation must be made in writing. A Beneficiary Designation shall be effective only if properly completed and only on receipt by the Company. Any properly completed Beneficiary Designation received by the Company prior to the Participant’s death shall automatically revoke any prior Beneficiary Designation. In the event of divorce, the person from whom such divorce has been obtained shall be deemed to have predeceased the Participant in determining who shall be entitled to receive Payment pursuant to the Participant’s Beneficiary Designation, unless the Participant completes and submits after the divorce a Beneficiary Designation which designates the former spouse as the Participant’s Beneficiary for purposes of this Award Agreement.
ii. If the Participant fails to designate a Beneficiary as provided above, or if all designated Beneficiaries predecease (or are deemed to predecease) the Participant or die prior to Payment of the amounts due to the Participant under this Award Agreement, then such Participant’s designated Beneficiary shall be deemed to be the Person or Persons surviving the Participant in the first of the following classes in which there is a survivor, share and share alike:
A. The Participant’s surviving spouse.
B. The Participant’s children, except that if any of such Participant’s children predecease the Participant but leave issue surviving, then such issue shall take, by right of representation, the share their parent would have taken if living. The term “children” shall include natural or adopted children but shall not include a child (or children) whom the Participant has placed for adoption or xxxxxx care.
C. The Participant’s estate.
Beneficiary designation means the form of written agreement, attached hereto as Annex II, by which the Participant names the Beneficiary(ies) of the Plan.
Beneficiary designation. You may name a Beneficiary or Beneficiaries to receive any portion of your Award that is to be settled after you die. This may be done only on the attached Beneficiary Designation Form and by following the rules described in that form. This form need not be completed now and is not required as a condition of receiving your Award. If you die without completing a Beneficiary Designation Form or if you do not complete that form properly, your Beneficiary will be your surviving spouse or, if you do not have a surviving spouse, your estate. Tax Withholding: Income taxes must be withheld when your Award is settled (see the Plan's prospectus for a discussion of the tax treatment of your Award). After the end of the Performance Period (and when the Company calculates the amount of your Award that has been earned), you will be contacted about how you want to meet this withholding obligation. You may meet this withholding obligation in one of several ways. They are: - The Company may withhold this amount from other amounts owed to you (e.g., from your salary or from the cash portion of your Award). - You may pay these taxes by giving the Company a check (payable to "The Ohio Casualty Insurance Company") in an amount equal to the taxes that must be withheld and that cannot be met through the cash portion of the Award. - By having the Company withhold a portion of the shares that otherwise would be distributed. The number of shares withheld will have a fair market value equal to the taxes that must be withheld. - You may give the Company other shares of Company stock (that you have owned for at least six months) with a value equal to the taxes that must be withheld. You may choose the approach you prefer. However, the Company may reject your preferred method for any reason (or for no reason). If you do not choose a method of meeting your withholding obligation (or if the Company rejects your preferred method of meeting this obligation), the taxes due will be withheld from cash otherwise due to you, including the cash portion of your Award, or, if sufficient cash is not due when these taxes must be paid, the Company will withhold a number of shares with a fair market value equal to the additional amount that must be withheld.
Beneficiary designation means the designation
Beneficiary designation means the written agreement, in the form attached hereto as Annex II, by which the Participant names his or her Beneficiary.