Individual Account Retirement Plan – Death Benefits

If you are partially or fully vested and die prior to receiving a distribution of the vested portion of your Individual Account, your account will be paid to your designated Beneficiary. You must designate a Beneficiary using a form provided by the Plan.  You may change your Beneficiary designation at any time by completing a new Beneficiary form provided by the Plan.  In order to be valid, any Beneficiary designation must be received by the Fund Office prior to your death.

If there is no designated Beneficiary, payment of your vested portion will be made to individuals in the following order:

• your surviving Spouse; or if none,
• your surviving children in equal shares; or if none
• your surviving natural parents in equal shares; or if none
• your surviving brothers and sisters in equal shares; or if none
• your estate.

Payment will be made in a single lump sum.  The recipient may elect to rollover all or some of the lump sum to an eligible retirement plan as described in the Summary Plan Description.