Survivor Annuity definition

Survivor Annuity means the entitlement to a future amount payable to a survivor as the remainder interest of an optional annuity form implied by law as having been chosen by a deceased member before the date of death and effective on the date of death or provided automatically.
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Survivor Annuity means an Annuity Contract payable to the Participant's surviving spouse in equal installments for the life of the surviving spouse that terminates upon the death of the surviving spouse.
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Survivor Annuity means a FSRDS or FSPS benefit which may be paid to an eligible surviving spouse, former spouse, or child, if a principal dies in active service or after retirement.
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Examples of Survivor Annuity in a sentence

  • Notwithstanding the provisions of Sections 6.01, 6.02 and 6.03, if the Participant (or Beneficiary) signed a written distribution designation prior to January 1, 1984 ("TEFRA election"), the Plan Administrator must direct the Trustee to distribute the Participant's Vested Account Balance in accordance with that election, subject however, to the Survivor Annuity requirements, if applicable, of Section 6.04.

  • If the Survivor Annuity percentage is greater than or equal to 75%, the Applicable Percentage is 50%.

  • A Survivor Annuity means an Annuity Contract payable to the Participant's surviving spouse in equal installments for the life of the surviving spouse that terminates upon the death of the surviving spouse.

  • If the Survivor Annuity percentage is less than 75%, then the Applicable Percentage is 75%.

  • The Employer in Appendix B may elect a different percentage (more than 50% but not exceeding 100%) for the Survivor Annuity.

  • A QOSA is an Annuity Contract: (i) for the life of the Participant with a Survivor Annuity for the life of the spouse which is equal to the Applicable Percentage of the amount of the annuity which is payable during the joint lives of the Participant and the spouse; and (ii) which is the actuarial equivalent of a single annuity for the life of the Participant.

  • For purposes of this Section 6.04(A)(8), the Applicable Percentage is based on the Survivor Annuity percentage under the Plan's QJSA.


More Definitions of Survivor Annuity

Survivor Annuity means a benefit in the form of a life and 100% survivor annuity with 60 monthly payments guaranteed. Albemarle Corporation Supplemental Executive Retirement Plan As Amended and Restated Effective January 1, 2005
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Survivor Annuity means the annuity described in Section 10.1 payable ---------------- with respect to a Member who dies before the Annuity Starting Date.
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Survivor Annuity means the qualified preretirement survivor annuity form of benefit provided to a Surviving Spouse in Section 5.12(b), or the survivor annuity form of benefit provided to a Beneficiary in Section 5.12(c).
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Survivor Annuity means the surviving spouse survivor annuity defined in Section 7.3 (Surviving Spouse Survivor Annuity - Retirement Account).
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Related to Survivor Annuity

  • 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.

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

  • Death Benefit means the insurance amount payable under the Certificate at death of the Insured, subject to all Certificate provisions dealing with changes in the amount of insurance and reductions or termination for age or retirement. It does not include any amount that is only payable in the event of Accidental Death.

  • Survivor s Option' means, where applicable, the right of a holder of a Note to require the Company to repay such Note prior to its Stated Maturity upon the death of the owner of such Note, subject to the provisions hereof relating to such option."

  • 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.