Named Beneficiary definition

Named Beneficiary means the person designated by a Member to receive a return of Accumulated Contributions or a Pension following the Member's death, pursuant to Article V or VI. The designation of Named Beneficiary shall be made in accordance with uniform and nondiscriminatory regulations adopted by the Trustees, and shall be effective upon receipt by the System.
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Named Beneficiary means the beneficiary or beneficiaries specifically named and identified on the Employee’s group life insurance policies with . In the event of multiple life insurance policies, the beneficiary designation(s) on the policy with the greatest dollar value will govern.
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Named Beneficiary or “Designated Beneficiary” or “Beneficiary” shall mean any person or trust, or combination, as last designated by the Participant during his lifetime upon a “Beneficiary Designation Form” provided by the Employer and filed with the Committee, who is specifically named to be a direct or contingent recipient of all or a portion of a Participant’s benefits under the Plan in the event of the Participant’s death. Such designation shall be revocable by the Participant at any time during his lifetime without the consent of any Beneficiary, whether living or born hereafter. Unless expressly provided by law, the Named Beneficiary may not be designated or revoked and changed by the Participant in any other way. No beneficiary designation or beneficiary change shall be effective until received in writing and acknowledged according to established Employer procedures and practices. Should the Participant fail to designate the Named Beneficiary, the Named Beneficiary shall be the Participant’s estate.
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Examples of Named Beneficiary in a sentence

  • If there is more than one Named Beneficiary the Appropriate Shares of the Trust Fund to which they are entitled in default should also be inserted.

  • These grant schemes are implemented through Calls for Proposals and/or Invitation Letters to Named Beneficiary in case of direct awards.The Calls for proposals are published on the Participant Portal.

  • If all Pensions payable on account of a Member terminate before payment in total of benefits equal to Accumulated Contributions, any remaining difference shall be paid to the Member's Named Beneficiary.

  • If the Member dies and no benefits are payable under any other Article of the Plan, the Member’s Named Beneficiary (or if there is no surviving Named Beneficiary, the Member’s estate) may apply for the refund.

  • Notwithstanding the provisions of 7.8.1, a Participant who has a Spouse at any relevant time shall be automatically deemed to have named his Spouse as the sole primary Named Beneficiary unless the Spouse consents otherwise.

  • The Club will allow the membership to be transferred to a named heir with payment of a $1,000 Transfer Fee per Named Beneficiary and execution of Club Membership Documents.

  • If no Named Beneficiary survives the Member, benefits shall be payable as follows:(a) to the Member's surviving Spouse, as specified in Section 8.02(a);(b) if the Member had no surviving Spouse, a refund of Accumulated Contributions shall be paid to the Member's estate.

  • No Named Beneficiary shall obtain any vested right to have this Plan continued in force, and it may be amended, modified, terminated in whole or in part by the Company in writing without the consent of any Named Beneficiary.

  • A presentation by Electric Power Group (EPG) was given to the SSS.

  • A Named Beneficiary who is not eligible for a benefit under Option A or Option B, as defined in Section 4.03(a)(4) and (5), shall receive the Accumulated Contributions in a lump sum.


More Definitions of Named Beneficiary

Named Beneficiary at any time shall mean, pursuant to the election of an Optional Pension under 4.5, the person last designated by the Participant in writing to the Board to receive benefits payable under such election upon the death of the Participant or the Minimum Death Benefit, if any.
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Named Beneficiary means a Beneficiary (as defined above in 1.4) which has been identified and selected by the Trustees in their discretion from time to time to receive grants, funding and other support from the Trust in accordance with the terms of this Deed and in furtherance of the Trust’s Objects.
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Named Beneficiary means the person designated by a Member to receive a return of Accumulated Contributions or a Pension following the Member's death, pursuant to Article VIII, IX or X. If an individual who has not attained the age of 18 years is designated as the Named Beneficiary, the designation will not become effective unless permitted by law. The designation of Named Beneficiary shall be
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Named Beneficiary means the person designated by a Member to receive a return of Accumulated Contributions or a Pension following the Member's death, pursuant to Article V or VI. If an individual who has not attained the age of 18 years is designated as the Named Beneficiary, the designation will not become effective unless permitted by law. The designation of Named Beneficiary shall be made in accordance with uniform and nondiscriminatory regulations adopted by the Trustees, and shall be effective upon receipt by the System.
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Related to Named Beneficiary

  • Qualified beneficiary means a beneficiary who, on the date the beneficiary's qualification is determined:

  • 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.

  • Income beneficiary means a person to whom net income of a trust is or may be payable.

  • Beneficiary means each designated person, or the estate of the deceased Executive, entitled to benefits, if any, upon the death of the Executive, determined according to Article 4.

  • Spouse means, an individual who,

  • 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.

  • Remainder beneficiary means a person entitled to receive principal when an income interest ends.