Single Life Only Annuity definition

Single Life Only Annuity means a monthly benefit continuing for the life of the Participant only. The last payment of a Single Life Only Annuity shall be made as of the first day of the month in which the death of the Participant occurs.
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Examples of Single Life Only Annuity in a sentence

  • If an eligible Participant is not married as of his Supplemental Retirement Benefit commencement date, the normal form of payment of such benefit will be a Single Life Only Annuity, commencing on his Normal Retirement Date.

  • The annuity option that will always be available is the Income for Single Life Only Annuity.

  • Under the Single Life Only Annuity, a monthly benefit shall be paid to the Participant for his lifetime.

  • The last payment of the Single Life Only Annuity shall be made as of the first day of the month in which the death of the Participant occurs.

  • The amount of the reduction shall be equal to the Single Life Only Annuity that would have been payable under the Other Plan as of the Determination Date or, if the Single Life Only Annuity is not available under such Other Plan, the Single Life Only Annuity which is the Actuarial Equivalent of the normal form of benefit that would have been payable under such Other Plan as of the Determination Date.

  • The benefit under a Period Certain and Continuous Annuity shall be the Actuarial Equivalent of a Single Life Only Annuity based on the life of the Participant.

  • In determining the actuarially equivalent Single Life Only Annuity for a lump sum benefit, the Applicable Interest Rate will be substituted for 5 percent.

  • The last payment of a Single Life Only Annuity shall be made as of the first day of the month in which the death of the Participant occurs.

  • The benefit under a Joint and Survivor Annuity shall be the Actuarial Equivalent of a Single Life Only Annuity based on the life of the Participant.

  • The benefits shall be paid in the form of a Single Life Only Annuity (for unmarried Participants) or the Qualified Joint and Survivor Annuity (for married Participants) described in Article IV of the main text of this Appendix unless the Participant properly waives the Qualified Joint and Survivor Annuity or Single Life Only Annuity and selects an optional benefit form described in Article V.