Optional Forms Sample Clauses
The "Optional Forms" clause defines which forms or documents may be used at the discretion of the parties involved, rather than being strictly required. In practice, this clause might specify that certain templates, checklists, or reporting formats are available for use but are not mandatory, allowing parties to choose the most suitable documentation for their needs. Its core function is to provide flexibility in administrative processes, reducing unnecessary rigidity and allowing parties to adapt documentation to the specific circumstances of their agreement.
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Optional Forms. Additional forms have been developed (Appendices H and I) and may be used at the discretion of the employee to pursue professional growth.
Optional Forms. Instead of a Ten-Year Certain and Life Annuity, the retired or terminated Employee may irrevocably elect prior to commencement of his or her Income Continuation Amount to receive his or her Income Continuation Amount in one of the following optional forms, which will be actuarially equivalent to the Ten-Year Certain and Life Annuity:
(a) a reduced Ten-Year Certain and Life Annuity with 50 percent of the amount thereof payable to the surviving beneficiary for the beneficiary's lifetime beginning after the total of the payments to the Employee and the beneficiary equals 120; or
(b) a reduced Ten-Year Certain and Life Annuity with 75 percent of the amount thereof payable to the surviving beneficiary for the beneficiary's lifetime beginning after the total of the payments to the Employee and the beneficiary equals 120; or
(c) a reduced Ten-Year Certain and Life Annuity with 100 percent of the amount thereof payable to the surviving beneficiary for the beneficiary's lifetime beginning after the total of the payments to the Employee and the beneficiary equals 120. For purposes of this Section 5, actuarial equivalence is determined using the same actuarial assumptions used to determine actuarially equivalent options in the Retirement Plan.
Optional Forms. Amount determined on an actuarially equivalent basis and payable in one of the following forms:
Optional Forms. A Participant may elect not later than two (2) months prior to retirement any one of the following optional forms of pension.
1. A monthly pension commencing on retirement date and payable during his/her lifetime, with one-half of the monthly pension payable to the beneficiary during the lifetime after the death of the participant. The amount of pension will depend upon the age and sex of both the beneficiary and the Participant, but in any event, will be smaller than the normal form of pension.
2. A monthly pension commencing on retirement date and payable during the lifetime of the participant with the same amount of pension payable to the beneficiary during his/her lifetime after the death of the participant. The amount of this monthly pension will depend upon the age and sex of both the beneficiary and the participant, but in any event, will be smaller than the normal form of pension.
3. A special survivor pension, payable for life equal to 90% increased or decreased by 1/2% for each full year by which the spouse is more than ten (10) years older or younger than the participant respectively.
Optional Forms. In respect of procedures under the Regulations other than those referred to in Section 2, the International Bureau may establish optional forms.
Optional Forms. If you feel that your needs would be better served by a different form of annuity than that normally payable, you may elect to have the pension paid in an optional form of annuity which must be permitted by Government Legislation. If you have a spouse, an optional form may only be elected if the above spousal waiver conditions have been met.
Optional Forms. If you do not have a spouse, or if she has waived her rights to a 60% survivor pension, then you may elect to receive your pension as a straight life annuity with no guaranteed period, or you may wish to have a guaranteed period of 10 or 15 years. You can also elect a pension that gives your spouse more than 60% of your pension if you predecease her. In the case of early retirement, you may elect to increase the amo unt you receive prior to the com- mencement of OAS or Canada Pension. An op- tion sheet will be provided to you prior to your retirement so that you can choose the most ap- propriate one for your situation. Your first pension payment will be made at the end of the month following your retirement. The pay- ment can be made directly to you or by automatic direct deposit, to your bank account.
Optional Forms. A Participant may elect not later than two (2) months prior to retirement any one of the following optional forms of pension.
Optional Forms. A. Benefits shall be payable to a Participant only in one of the following forms: [COMPLETE ONLY IF THE SAFE HARBOR RULE OF SECTION 5.06(B)(6) IS TO APPLY] ___ a lump sum.
Optional Forms. Prior to the commencement of payment of the Supplemental Pension Benefit hereunder and under the Pension Plan, an Eligible Employee may make a written request to the Company that his Supplemental Pension Benefit under this Plan be paid in the same form and at the same time as his Pension Plan Benefit is to be paid under the Pension Plan, with appropriate adjustment to assure that such benefit payments are Actuarially Equivalent to such Eligible Employee's Supplemental