Joint Life Expectancy definition

Joint Life Expectancy means the number of months of life expectancy of the Executive and his Former Spouse at the time of termination of the Executive’s employment with the Corporation after a Change in Control, as determined by reference to the table of Joint Life and Last Survivorship Expectancy published by the Internal Revenue Service in Publication 590 or any successor publication. If publication of such tables is discontinued, Joint Life Expectancy shall be determined by reference to comparable tables published by a recognized non-public authority.
Sample 1
Joint Life Expectancy. The joint two life expectancy of a Participant and his Beneficiary determined using Table VI of Treasury Regulation 1.72-9 and based upon their attained ages as of a specified date. If more than one Beneficiary is selected, the Joint Life Expectancy will be determined using the Beneficiary with the oldest age.
Sample 1
Joint Life Expectancy means the number of years of life expectancy of Xxxxx and his spouse at the time of a Change in Control, as determined by the Joint Life and Last Survivor Expectancy table published in IRS Publication 590, a successor publication, or in the absence of either, a comparable table or tables published by a recognized non-public authority. If Xxxxx’x spouse is not living at the time of a Change in Control, the Single Life Expectancy table shall be used in lieu of the Joint Life and Last Survivor Expectancy table.
Sample 1

Examples of Joint Life Expectancy in a sentence

  • If your spouse is your sole designated beneficiary for the entire calendar year, and is more than 10 years younger than you, the required minimum distribution is determined each year using the actual joint life expectancy of you and your spouse obtained from the Joint Life Expectancy Table provided by the IRS, rather than the life expectancy divisor from the Uniform Lifetime Table.

  • If your spouse is your sole Beneficiary, and is more than 10 years younger than you, the required minimum distribution is determined each year using the actual joint life expectancy of you and your spouse obtained from the Joint Life Expectancy Table provided by the IRS, rather than the life expectancy divisor from the Uniform Lifetime Table.

  • Please use the Joint Life Expectancy Table to calculate my minimumdistribution using our joint ages.q This is a minimum distribution due to the death of the IRA owner.

  • Please use the Joint Life Expectancy Table to calculate my minimum distribution using our joint ages.❑ This is a minimum distribution due to the death of the IRA owner.

  • Calculate my Required Minimum Distribution based on the Joint Life Expectancy Table.

  • Please use the Joint Life Expectancy Table to calculate my minimum distribution using our joint ages.This is a minimum distribution due to the death of the IRA owner.

  • Calculation with Joint Life Expectancy: Yes (If yes, complete 2a - 2c.) Noa.

  • However, if your spouse is your sole designated beneficiary for the entire calendar year, and is 10 or more years younger than you, the required minimum distribution is determined each year using the actual joint life expectancy of you and your spouse obtained from the Joint Life Expectancy Table provided by the IRS.

  • If the spouse beneficiary is more than 10 years younger, however, the owner uses the Joint Life Expectancy Table to determine the applicable life expectancy factor which results in smaller annual distributions.

  • Please use the Joint Life Expectancy Table to calculate my minimum distribution using our joint ages.q This is a minimum distribution due to the death of the IRA owner.

Related to Joint Life Expectancy

  • Life expectancy means life expectancy as computed by use of the Single Life Table in Section 1.401(a)(9)-9 of the Treasury regulations.

  • Joint Annuitant means the individual specified as such in the Data Pages. The Joint Annuitant must be the spouse of the Annuitant on the Contract Date.

  • Annuity Starting Date means, with respect to any Participant, the first day of the first period for which an amount is paid as an annuity, or, in the case of a benefit not payable in the form of an annuity, the first day on which all events have occurred which entitles the Participant to such benefit.

  • Single Life Annuity means a Participant’s Grandfathered Benefit and/or 409A Benefit, as applicable, payable as an annuity in equal monthly installments over the life of the Participant, commencing as of the Payment Date and terminating in the month in which the Participant dies, with no further payments thereafter.

  • Annuitant means a person who receives a retirement allowance or a disability allowance;

  • ANNUITY DATE The date on which Annuity Payments begin. The Annuity Date is shown on the Contract Schedule. ANNUITY OPTIONS: Options available for Annuity Payments.

  • Distribution Calendar Year means the calendar year for which a minimum distribution is required. For distributions beginning before the Participant’s death, the first distribution calendar year is the calendar year immediately preceding the calendar year which contains the Participant’s required beginning date. The required minimum distribution for the Participant’s first distribution calendar year will be made on or before the Participant’s required beginning date. The required minimum distribution for other distribution calendar years, including the required minimum distribution for the distribution calendar year in which the Participant’s required beginning date occurs, will be made on or before December 31 of that distribution calendar year.

  • Annuity Unit An accounting unit of measure used to calculate the amount of Annuity Payments.

  • Actuarial equivalent means a benefit of equal value when

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

  • Designated Beneficiary means the beneficiary or beneficiaries the Participant designates, in a manner the Administrator determines, to receive amounts due or exercise the Participant’s rights if the Participant dies or becomes incapacitated. Without a Participant’s effective designation, “Designated Beneficiary” will mean the Participant’s estate.

  • Joint and Survivor Annuity means an immediate annuity for the life of a Participant with a survivor annuity for the life of the Participant's Spouse which is not less than fifty percent (50%), nor more than one hundred percent (100%) of the amount of the annuity payable during the joint lives of the Participant and the Participant's Spouse which can be purchased with the Participant's Vested interest in the Plan reduced by any outstanding loan balances pursuant to Section 7.4.

  • 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.

  • Starting Date means the date referred to in Clause 3.3 hereof;

  • Actuarially Equivalent or "of equal actuarial value" means a benefit of equal value

  • Account Balance means, with respect to a Participant, an entry on the records of the Employer equal to the sum of (i) the Deferral Account balance, (ii) the Company Contribution Account balance, and (iii) the Company Restoration Matching Account balance. The Account Balance shall be a bookkeeping entry only and shall be utilized solely as a device for the measurement and determination of the amounts to be paid to a Participant, or his or her designated Beneficiary, pursuant to this Plan.

  • Distributee means an Employee or former Employee. In addition, the Employee's or former Employee's surviving spouse and the Employee's spouse or former spouse who is the alternate payee under a Qualified Domestic Relations Order are considered Distributees with regard to the interest of the spouse or former spouse.

  • Accrued Benefit have the meanings specified in ERISA.

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

  • primary beneficiary means the individual for whose primary benefit the trust is then held. For purposes of Section 8.3, a Qualified Entity is a member of each Family Group to which such one or more Qualified Trusts that are its equity holders belong.

  • Qualified Joint and Survivor Annuity means an immediate annuity for the life of the Participant with a survivor annuity for the life of the Spouse which is fifty percent (50%) of the amount of the annuity which is payable during the joint lives of the Participant and the Spouse and which is the amount of benefit which can be purchased with the Participant's Vested Account Balance.

  • Interpolated Benchmark with respect to the Benchmark means the rate determined for the Corresponding Tenor by interpolating on a linear basis between: (1) the Benchmark for the longest period (for which the Benchmark is available) that is shorter than the Corresponding Tenor and (2) the Benchmark for the shortest period (for which the Benchmark is available) that is longer than the Corresponding Tenor.

  • life annuity means “life annuity contract” as defined in Pension Legislation that conforms with the Act and Pension Legislation;

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

  • Life-cycle cost means the expected total cost of ownership during the life of a product, including disposal costs.

  • Distribution Period means, for any Distribution Date, the period from and including the Distribution Date immediately preceding such Distribution Date (or, in the case of the first Distribution Date, from and including the Closing Date) to but excluding such Distribution Date.