Annuity Certificates. After securing any applicable regulatory approvals, Prudential will issue an annuity certificate to each Annuitant, each Contingent Annuitant receiving payments on the certificate issuance date, and each Alternate Payee entitled to payments under a Separate Interest QDRO. Each annuity certificate will set forth in substance the payments to which each certificate-holder is entitled under this Contract. Each annuity certificate will provide that only the certificate-holder has the right to Annuity Payments under this Contract, and that such right to Annuity Payments is enforceable by the certificate-holder solely against Prudential and against no other person including the Plan, the Contract-Holder, or any affiliate thereof. Each annuity certificate will describe the consequences of any Data Misstatements, including Prudential’s rights and obligations relating to such Data Misstatements. Prudential may issue a substitute annuity certificate to correct errors contained in the previously issued annuity certificate, whereupon the previously issued annuity certificate will be null and void. The rights of Annuitants, Contingent Annuitants, and Alternate Payees entitled to payments under a Separate Interest QDRO under this Contract are not conditioned upon the issuance of annuity certificates, and any delay in issuing annuity certificates to such individuals does not delay the date on which the individuals begin to have third-party beneficiary rights as specified under this Contract.
Appears in 2 contracts
Sources: Group Annuity Contract (BOISE CASCADE Co), Group Annuity Contract (BOISE CASCADE Co)