Examples of Eligible Spouse in a sentence
Any Beneficiary designation that does not provide for the Participant's Eligible Spouse to receive at least fifty percent (50%) of the Participant's vested account balance in the form of a life annuity must be consented to by the Eligible Spouse in writing, with the signature of the Eligible Spouse witnessed by a notary public.
If a Participant has an Eligible Spouse at retirement, the entire amount of his or her account will be used to purchase an immediate joint and fifty percent (50%) contingent annuity, where the Eligible Spouse is named as the contingent annuitant; unless the Participant and Eligible Spouse elect payment in one of the forms described in Section 6.01.
If the Participant and Eligible Spouse elect an optional form of payment, in order for the election form to be effective it shall carry the Eligible Spouse's consent in writing to such an election and the Eligible Spouse's signed acknowledgement of the effect of such election.
The Participant and Eligible Spouse may make such an election on forms provided by the Plan Administrator any time prior to payment of any benefits.