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lump sum. <br />(B) Payment Over a Maximum Period of Ten Years. In lieu of the <br />installment payments under the preceding Section 1.10(A), You may <br />direct Us in writing to disburse the assets from the GIA in annual <br />installments over no more than ten (10) years from the Termination <br />Date. The initial disbursement will be on the first anniversary of the <br />Termination Date if that date is a normal business day for Us. If not, <br />the disbursement will be made on PRIAC's next normal business day. <br />Any subsequent disbursements will be made on each calendar year <br />anniversary of the Termination Date if that date is a normal business <br />day for Us. If not, the disbursement will be made on PRIAC's next <br />normal business day. <br />We will issue a written guarantee of the interest rate that We will credit <br />to the unpaid balance of the GIA. The interest rate will be an annual <br />rate and will not change during the life of the installment payment <br />period (the "Installment Period Rate"). <br />Installment Period Rate = Declared Interest Rate as of the <br />Termination Date - 1 % <br />The Installment Period Rate will always be greater than or equal to <br />the Minimum Rate in effect during the semi-annual period in which <br />the Termination Date falls, as described in Section 1.3 hereunder. In <br />addition, We will continue to charge Expenses described in the <br />Expense Schedule. <br />The number of annual payments will be referred to as "N" where <br />N = 04) times 100 rounded up to the next integer <br />but N is not less than 1 or greater than 10, <br />j = the New Rate, and <br />i = the Declared Interest Rate as of the Termination Date. <br />Each disbursement will be an amount equal to 1/(N-t+l) times the <br />remaining value of the GIA, where t equals 1 for the first installment, <br />2 for the second installment, and so on until it equals N for the last <br />installment. <br />After the Termination Date and during any installment period described in this Section <br />1. 10, and as the Plan permits, We will continue to pay Distributions for retirement, <br />termination, death, disability, unforeseen emergency, or Distributions required by Code <br />_.._ section 401(x)(9). Also, after the Termination Date, as the Plan permits, Wewill . <br />GA -2020 -GIF -FS -0805 <br />25D-61 <br />Addend=457single_PRIAC_2020-GIF-FS-0805 <br />