Preretirement Survivor Annuity definition

Preretirement Survivor Annuity. A survivor annuity for the life of the surviving spouse of the Participant, the actuarial equivalent of which is equal to the portion of the Account balance of the Participant as of the date of death to which the Participant had a vested and nonforfeitable right, provided that any security interest held by the Plan by reason of a loan outstanding to the Participant for which a valid spousal consent has been obtained, if necessary, shall be taken into account.

Preretirement Survivor Annuity means an annuity for the life of a Participant's surviving spouse, that is equal to the maximum amount of annuity benefit that can be purchased with the Participant's Account as of the Annuity Starting Date.

Preretirement Survivor Annuity means the benefits determined in accordance with Section 7.7(a).

Examples of Preretirement Survivor Annuity in a sentence

• If the Qualified Preretirement Survivor Annuity is waived, the spouse has the right to limit consent only to a specific Beneficiary.

• The Participant may waive the spousal death benefit described in this paragraph (b) at any time, provided that no such waiver shall be effective unless it satisfies the conditions applicable under Section 10.4(c) to a Participant's waiver of a Qualified Preretirement Survivor Annuity.

• A waiver of a Qualified Joint and Survivor Annuity or a Qualified Preretirement Survivor Annuity.

• An election to waive the Qualified Preretirement Survivor Annuity may not be made by the Participant before the date he is provided with the notice of the ability to waive the Qualified Preretirement Survivor Annuity.

• Unless an optional form of benefit has been selected within the Election Period pursuant to a Qualified Election, the Vested Account Balance of a Participant who dies before the Annuity Starting Date shall be applied toward the purchase of an annuity for the life of his surviving spouse (a "Qualified Preretirement Survivor Annuity").

More Definitions of Preretirement Survivor Annuity

Preretirement Survivor Annuity means an annuity for the surviving spouse of a Member, as described in section 6.5.

Preretirement Survivor Annuity means the benefit described in Section 5.6.

Preretirement Survivor Annuity means an annuity for the life of the surviving spouse of a deceased Participant that has an actuarial present value that is equal to 100% of the balance in the Participant’s account as of the date of the Participant’s death.

Preretirement Survivor Annuity means the benefit provided to the Spouse of a qualifying Participant under Article 8.

Preretirement Survivor Annuity means an annuity for the life of the surviving spouse of the Participant, the actuarial equivalent of which is not less than 50% of the Vested Account of the Participant as of the Participant's date of death, including the proceeds of any life insurance contracts. The Preretirement Survivor Annuity will include the Participant's contributions in the same ratio that the total Participant contributions in the Participant's Account bears to the total Account balance of the Participant. The portion of the Participant's Vested Account that is not payable as a Preretirement Survivor Annuity will be payable to the Participant's designated Beneficiary. The actuarial equivalent of the Preretirement Survivor Annuity will be 50% of the Participant's Vested Account.

Preretirement Survivor Annuity means an annuity for the life of the surviving spouse of the Participant, the actuarial equivalent of which is not less than 50% of the Account balance of the Participant as of the Participant's date of death, including the proceeds of any life insurance contracts. The preretirement survivor annuity will include the Participant's contributions in the same ratio that the total Participant contributions in the Participant's Account bears to the total Account balance of the Participant. The portion of the Participant's vested Account balance that is not payable as a Preretirement Survivor Annuity will be payable to the Participant's designated Beneficiary pursuant to Section 8.8. The actuarial equivalent of the preretirement survivor annuity will be 50% of the Participant's vested Account balance unless a different percentage is elected in the Adoption Agreement.

Preretirement Survivor Annuity means a life ------------------------------ annuity under a commercial annuity contract purchased by the