Pre-Retirement Death Benefits

Single Participants:

If you are unmarried and are vested with at least 5 Years of Service, upon your death, your beneficiary will be entitled to either a Straight Life Annuity, payable immediately for a period of 120 months, or an actuarially calculated lump sum benefit equivalent.

No benefits are payable upon your death if you have not completed at least 5 Years of Service.

Married Participants:

If you are married and worked at least one hour after August 22, 1984, your spouse may be entitled to certain survivor benefits if you die before retirement.

Effective January 1,1995 the 50% Pre-Retirement Death Benefit was substituted with a 100% Joint and Survivor benefit. If you are a vested participant under the Plan, your spouse will be eligible for a pre-retirement benefit in the form of a 100% Joint and Survivor Annuity provided that you worked at least 1 hour after January 1, 1990. Your spouse may reject the 100% Joint and Survivor monthly payment option in favor of a lump sum benefit which will be the actuarial equivalent of the 100% Joint and Survivor Option.

If you are vested with 10 or more years of service, your spouse may elect a lump sum payment payable immediately or a monthly benefit beginning the first of the month following the date you would have reached age 55.

If you are vested with 5-9 years of service, your spouse may elect a lump sum payment payable immediately or a 100% Joint and Survivor option payable the first of the month following the date you would have reached age 60.