Fixed Maturity Option definition

Fixed Maturity Option means the Investment Option that specifies a period of time during which the Rate to Maturity is guaranteed to remain the same for amounts allocated to and held for such period until its expiration.
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Fixed Maturity Option. (FMO) means the Investment Option that specifies a period of time during which an interest rate is guaranteed to remain the same for amounts allocated to and held for such period until its expiration.
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Fixed Maturity Option will apply separately with respect to each Participant's Annuity Account Value. An Employer's request to withdraw the vested portion of the Annuity Account Value from a Participant's account is subject to Equitable's receipt of the Participant's written consent. Subject to the terms of the Plan and the restrictions on distributions stated in Section 5.01, Equitable reserves the right to terminate a Participant's participation under this Contract by paying the Annuity Account Value to the Participant. This right will be exercised only if (i) no initial Contributions have been received on the Participant's behalf within 120 days of the Participation Date under this Contract, (ii) there have been no on-going Contributions received on behalf of the Participant during the last three completed Participation Years, and the Annuity Account Value is less than [$500], or (iii) a partial withdrawal is made that would result in the Participant's Annuity Account Value falling below [$500].
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Examples of Fixed Maturity Option in a sentence

  • For each such Fixed Maturity Option, we guarantee to credit interest at the Rate to Maturity.

  • The duration of each Fixed Maturity Option offered under the Participant's account under this Contract and the Rate to Maturity, which applies to each Fixed Maturity Option, will be furnished by us upon request.

  • We will notify the Participant at least 15 days but not more than 45 days before the Expiration Date of each Fixed Maturity Option.

  • Contributions or transfers into a Fixed Maturity Option will receive the Rate to Maturity applicable to the elected Fixed Maturity Option on the Transaction Date.

  • In no event may the Participant elect a Fixed Maturity Option that extends beyond the Annuity Commencement Date.

  • If no election is made with respect to amounts in a Fixed Maturity Option as of the Expiration Date, such amounts will be transferred into a Fixed Maturity Option with the earliest available Expiration Date that occurs after the then current calendar year.

  • During the 30 days following the Expiration Date, the amount in the Fixed Maturity Option (less any withdrawals or transfers made or charges deducted during such 30 day period) may be transferred into a new Fixed Maturity Option or other Investment Option.

  • The Fixed Maturity Amount of a Fixed Maturity Option is equal to the amount allocated to that Fixed Maturity Option, plus interest at the Rate to Maturity, minus withdrawals, transfers and charges, if any, deducted from the Fixed Maturity Option and adjusted for any market value adjustment previously applied.

  • Contributions and transfers to a Fixed Maturity Option as described in Part III "Contributions, Allocations and Discontinuance" will be allocated according to the Participant's election.

  • The percentage is determined by dividing (i) the amount of the withdrawal or transfer from the Fixed Maturity Option by (ii) the Fixed Maturity Amount in such Fixed Maturity Option prior to the withdrawal or transfer.