- 4 -
annuity for his life. Under this election, the surviving spouse
would receive nothing.
Section 4.01 of each plan provides as follows:
Notwithstanding the provisions of Article III, the
benefits of * * * [Rozenblatt or Jakubowicz] having a
spouse living on the date on which his benefits would
commence because of his retirement on his Normal or
Deferred Retirement Date or earlier commencement of
benefits shall be paid in the form of a * * * [QJSA]
unless, within 90 days prior to such date (or within
such longer or shorter period as may be deemed
reasonable by the Secretary of the Treasury), he elects
in writing not to take such annuity. * * *
Under section 1.25 of each plan, the QJSA provided under
each plan is defined as a joint and 100-percent survivor annuity
(i.e., each surviving spouse is to receive as a survivor annuity
the same annuity payment that her husband is to receive during
his life). Under section 1.25 of each plan, the QJSA is defined
further as a joint and 100-percent survivor annuity that is
equivalent in value to a participant's retirement pension.
Section 1.25 of each plan provides as follows:
[QJSA] means an annuity for the life of * * *
[Rozenblatt or Jakubowicz] with a survivor annuity for
the life of the spouse * * * which is the actuarial
equivalent of his Retirement Pension. The Survivor
Annuity shall be the same amount the annuitant was
receiving.
Under the plans, "actuarial equivalent" means equal in present
value.
Page: Previous 1 2 3 4 5 6 7 8 9 10 11 Next
Last modified: May 25, 2011