Death Benefit Distribution definition

Death Benefit Distribution means any distribution that does not begin before the death of the Participant.
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Death Benefit Distribution means any distribution that begins after the death of a Participant.
Sample 1Sample 2Sample 3

Examples of Death Benefit Distribution in a sentence

  • Any choice is subject to the Death Benefit Distribution Rules provision of this Contract.

  • A Participant's Account shall not be paid (or otherwise made available) to the Participant except as a Retirement Distribution (including a transfer described in Section 7.14) or a Death Benefit Distribution, or as a Hardship Distribution (all as de8fined and provided below).

  • PLUMAS BANK SUPPLEMENTAL EXECUTIVE RETIREMENT AGREEMENT Table C: Death Benefit Distribution Event Amount of Benefit Form of Benefit Timing of Benefit Distribution Executive’s death while actively employed with the Bank.

  • Any Death Benefit Distribution shall comply with Code sections 457(d) and a good faith interpretation of Code section 401(a)(9) and its Regulations as set forth in the final and temporary Treasury Regulations issued April 17, 2002 and subsequent guidance for governmental plans under Code section 401(a)(9).

  • In addition to any other provisions of the Plan, any Retirement Distribution or Death Benefit Distribution shall conform to the applicable requirements of Code sections 457(d)(2) and 401(a)(9) and the Regulations issued thereunder.

  • They are not payable as a Death Benefit, Distribution on Death, or an Annuity Benefit.

  • Subject to Section 7.6 below, a Death Benefit Distribution shall commence as of the date elected by the Beneficiary.

  • Upon a Participant's severance from employment with Employer or death, the Participant's Account shall be payable as a Retirement Distribution (Sections 7.2 through 7.4, below) or as a Death Benefit Distribution (Sections 7.5 through 7.6, below), subject to the provisions of the Plan.

  • Any kind of distribution or the particular kind of distribution provided by the Plan, including, but not limited to: • Retirement Distribution under Provision 7A• Death Benefit Distribution under Provision 7B• Unforeseeable Emergency Distribution under Provision 7C• Voluntary In-Service Distribution under Provision 7E.

  • We will pay the Death Benefit as a lump sum rather than as payments under a Payout Option if: 1) as of the date that the Death Benefit Value is to be applied to a Payout Option, the Death Benefit Distribution Rules provision of this Contract does not allow a two-year payout; or 2) the Death Benefit is less than $2,000.

Related to Death Benefit Distribution

  • Benefit Distribution Date means the date upon which all or an objectively determinable portion of a Participant’s vested benefits will become eligible for distribution. Except as otherwise provided in the Plan, a Participant’s Benefit Distribution Date shall be determined based on the earliest to occur of an event or scheduled date set forth in Articles 4 through 9, as applicable.

  • Death Benefit means the insurance amount payable under the Certificate at death of the Insured, subject to all Certificate provisions dealing with changes in the amount of insurance and reductions or termination for age or retirement. It does not include any amount that is only payable in the event of Accidental Death.

  • Pre-Retirement Survivor Benefit means the benefit set forth in Article 6.

  • Net death benefit means the amount of the life insurance policy or certificate to be settled less any outstanding debts or liens.

  • Retirement Benefit means the benefit set forth in Article 5.

  • Accrued Benefit means the amount standing in a Participant's Account(s) as of any date derived from both Employer contributions and Employee contributions, if any.

  • Public benefit means making capital available, or facilitating the availability of capital, to businesses in this state that have 750 or fewer employees, the intent of which is to create or retain employment opportunities for residents of this state, stabilize or increase the tax base of this state, or support the redevelopment of facilities for use by small businesses.

  • Plan Benefit means the benefit payable to a Participant as calculated in Article V.

  • Disability benefit recipient means a member who is receiving a disability benefit.

  • Normal Retirement Benefit means an annual benefit equal to One Hundred Fifty Thousand Dollars and No/100 ($150,000.00) per year, payable in accordance with the terms of this Agreement. Beginning on the thirteenth month that the Normal Retirement Benefit is paid, and continuing thereafter until paid in full, the Normal Retirement Benefit shall be increased annually by three percent (3%) from the previous year’s Normal Retirement Benefit amount to account for cost of living increases.

  • Supplemental Retirement Benefit means the benefit determined under Article V of this Plan.

  • Disability Benefit means the benefit set forth in Article 8.

  • Retirement Benefits means benefits paid by reference to reaching, or the expectation of reaching, retirement or, where they are supplementary to those benefits and provided on an ancillary basis, in the form of payments on death, disability, or cessation of employment or in the form of support payments or services in case of sickness, indigence or death. In order to facilitate financial security in retirement, these benefits may take the form of payments for life, payments made for a temporary period, a lump sum, or any combination thereof;

  • Early Retirement Benefit means the retirement benefit payable to a member following early

  • Regular benefits ’ means benefits payable to an individual under this act or under any other state law, including benefits payable to federal civilian employees and to ex-servicemen pursuant to 5 U.S.C. chapter 85, other than extended benefits.

  • Supplemental Benefit means the monthly benefit payable to the Executive under this Agreement.

  • Termination Benefit means the benefit set forth in Article 7.

  • Qualified Preretirement Survivor Annuity means an annuity which is payable for the life of the Participant's surviving spouse.

  • Profit Distribution Date means the date on which the Management Company decides to distribute the profits (if any).

  • Monthly Benefit means the monthly amount payable by Liberty to you if you are Disabled or Partially Disabled.

  • Net Benefit means the present value of the Covered Payments net of all federal, state, local, foreign income, employment and excise taxes.

  • Annual Benefit means an annual sum of fifty thousand dollars ($50,000) multiplied by the Applicable Percentage (defined below) and then reduced to the extent required: (i) under the other provisions of this Agreement; (ii) by reason of the lawful order of any regulatory agency or body having jurisdiction over the Employer; and (iii) in order for the Employer to properly comply with any and all applicable state and federal laws, including, but not limited to, income, employment and disability income tax laws (eg., FICA, FUTA, SDI).

  • Surviving Spouse means the widow or widower, as the case may be, of a Deceased Participant or a Deceased Beneficiary (as applicable).

  • Lump Sum means the total sum which will have become payable to the Contractor by the Principal upon completion of the Works.

  • Last Monthly Benefit means the gross Monthly Benefit payable to the Insured Employee immediately prior to death. Any reductions for Other Income Benefits, or for earnings the Insured Employee received for Partial Disability Employment, will not apply.

  • Annuity means a stated sum payable periodically at stated times during life or during a specified or ascertainable period of time under an obligation to make the payments in return for adequate and full consideration in money or money's worth.