Group Annuity Policy definition
Examples of Group Annuity Policy in a sentence
The Group Annuity Policy provides that contributions may be made to those funds which the Trustee has chosen on the Company's Instructions by way of a separate written instrument and agreed to by Sun Life, and the Company confirms that it has approved those funds.
In the event of any conflict between the terms and conditions of the Group Annuity Policy and the Plan, the terms and conditions of the Group Annuity Policy will govern.
ARTICLE AMOUNT OF PENSION ALLOWANCE A basic amount of seventy two dollars ($72.00) per annum for each year of Credited Service not exceeding Normal Retirement plus any past service purchased under Group Annuity Policy For the purpose of calculating the amount of pension Credited Service as determined under Article V will be adjusted to the nearest twelfth of a year.
The Trustee will be under no obligation to supervise, and will have no responsibility or liability for any acts of Sun Life acting under the Group Annuity Policy.
The Group Annuity Policy will not be amended by the Trustee except upon the specific written direction of the Company.
The Company acknowledges that the investment of the Trust Fund in segregated funds and/or guaranteed funds will be governed by the terms of the Group Annuity Policy.
DEFINITIONS (continued) Eligible Person - includes any person who may be a member of the Group Policyholder but who is in the employment of a Participating Employer on the date that the Application for Coverage under this Group Annuity Policy is made in respect of him/her.
The amount of monthly Retirement Pension shall be calculated according to the provisions of Article An Employee's normal retirement date will be the first day of the month immediately following the date you attain the age of For each year of membership in the plan, a retirant will receive a pension at normal retirement date equal to per annum, less any annuity purchased under Group Annuity Policy No. to provide past service.
A basic amount of seventy two dollars ($72.00) per annum for each year of Credited Service not exceeding Normal Retirement plus any past service purchased under Group Annuity Policy For the purpose of calculating the amount of pension Credited Service as determined under Article V will be adjusted to the nearest of a year.
The amount of monthly Retirement Pension shall be calculated according to the provisions of Article An Employee's normal retirement date will be the first day of the month following the date you attain the age of For each year of membership in the plan, a retirant will receive a pension at normal retirement date equal to per annum, less any annuity purchased under Group Annuity Policy No. to provide past service.