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

  • Survivor annuity for former spouse: 55 per- cent of $10,500 or $5,775.

  • The Joint and Survivor annuity rules set forth in Plan Sections 6.5(e) and 6.5(f) apply to all Participants (if selected, then annuities are a form of distribution under the Plan even if e.

  • Expected payments are calculated based on (1) the existing pension benefit formula, applied to a Joint and 100% Survivor annuity, (2) expected growth in participants’ compensation until retirement, which is equal to the average assumed rate of compensation increase presented in the Company’s annual report pension footnote, (3) participants’ marital status and age of their spouses, and (4) the assumed retirement age of participants.

  • If the eligible Employee were to die before actual retirement, the spouse of the deceased eligible Employee will receive a pension benefit calculated as if the eligible Employee had retired on the day before his/her death and had elected a Joint and Survivor annuity with fifty percent (50%) continuation for the survivor.

  • The contingent Survivor annuity under paragraph 4.2(a)(2) shall be payable to the Participant's Survivor only if the Participant predeceases the Survivor and shall be paid in monthly installments beginning in the month following the Participant's death and ending in the month the Participant's Survivor dies.

  • An immediate annuity for the life of the Participant with a Survivor annuity for the life of the spouse which is not less than 50% and not more than 100 %, 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.

  • The death benefit shall be in the form of a 50% Survivor annuity, or Actuarially Equivalent optional form thereof in accordance with Section 6.2, assuming the Member had retired at Normal Retirement (with a Pro-rata Portion of Principal Amount only), elected an equivalent reduced Joint and 50% Survivor benefit and then died one day later.

  • Notwithstanding the foregoing, no spousal consent shall be required if a participant elects a Joint and Survivor annuity and his Spouse is the designated beneficiary.

  • The "automatic" benefit for married participants, in the absence of an election, is the 50% Joint and Survivor annuity.

  • If the eligible Registered Nurse were to die before actual retirement, the spouse of the deceased eligible Registered Nurse will receive a pension benefit calculated as if the eligible Registered Nurse had retired on the day before his/her death and had elected a Joint and Survivor annuity with a fifty percent (50%) continuation for the survivor.


More Definitions of Survivor annuity

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 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 surviving spouse survivor annuity defined in Section 7.3 (Surviving Spouse Survivor Annuity - Retirement Account).
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Related to Survivor annuity

  • 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.

  • Qualified Preretirement Survivor Annuity is an annuity for the life of the surviving spouse of the Employee Participant or for a designated beneficiary, the actuarial equivalent of which is not less than fifty percent (50%) of the account balance of the Employee participant as of the date of his death.

  • Qualified Joint and Survivor Annuity means an immediate annuity for the life of a Participant, with a survivor annuity for the life of the spouse which is not less than 50% and not more than 100% 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 that can be purchased with the Participant's Vested Account Balance. The percentage of the survivor annuity under the Plan shall be 50%.

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

  • 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.