Pension Plan – Death & Survivor Benefits

If you die after you become Vested, your surviving spouse or eligible Dependents may be entitled to death benefits under the rules described below.

Automatic Joint and Survivor Benefit before Retirement

If you die after you become Vested, a pre-retirement Automatic Joint and Survivor Benefit is payable to your spouse, provided that you were married throughout the twelve-month period preceding your death.

Effective Date and Benefit Amount

The effective date of your surviving spouse’s benefit is based on whether your death occurred before or after you are eligible for a non-disability retirement benefit (Normal, Unreduced, and Unreduced Rule of 85 or Early Retirement Benefit).

If you die after becoming eligible for a non-disability retirement benefit, the effective date will be the first of the month following the date of your death. The amount of your spouse’s benefit will be determined as if you retired and elected an Automatic Joint and Survivor Benefit the day prior to your death. Your spouse will receive 50% of the calculated amount.

If you die before becoming eligible for a retirement benefit, the effective date will be the first of the month following the date that you would have first been entitled to a retirement benefit had you lived. The amount of your spouse’s benefit will be determined as if you retired when you first became entitled to a retirement benefit, elected an Automatic Joint and Survivor Benefit and then died. Your spouse will receive 50% of the calculated amount.

Spouse’s Election to Defer Payment of Pre-Retirement Automatic Joint and Survivor Annuity Benefit

Your spouse may elect in writing to postpone the starting date of the pre-retirement Automatic Joint and Survivor Annuity Benefit provided that it is not later than December 1 of the calendar year in which you would have reached age 70-1/2, had you lived. If your spouse elects to postpone the starting date of the pension, your spouse will receive 50% of the amount determined as if you retired on an Automatic Joint and Survivor Annuity Benefit and died immediately prior to when your spouse’s benefit is to start.

However, if your spouse dies before the starting date of the Automatic Joint and Survivor Annuity Benefit, that benefit will be forfeited and there will be no payments to any other person.

Automatic Lump Sum Payment of Small Benefits

If the Actuarial Present Value of your spouse’s monthly benefit is $1,000 or less, the Fund will automatically pay the Automatic Joint and Survivor Annuity Benefit out in a single lump-sum. Such payment would represent your spouse’s full entitlement to benefits under the Plan.

Pre-Retirement Death Benefit

Currently, this death benefit is not available if your benefits are subject to the terms of the Rehabilitation Plan.

If you are Vested, unmarried, and die prior to retirement the pre-retirement death benefit described in this section is payable to your surviving eligible Dependents. If you are married, this benefit is payable to your surviving spouse if you either (1) do not qualify for the pre-retirement Automatic Joint and Survivor Annuity described in the prior section or (2) your spouse rejects that pre-retirement Automatic Joint and Survivor Annuity at the time of your death.

The benefit is the Vested Percentage of your total Employer Contributions made payable over a period of 36 months to your spouse (or eligible Dependents if there is no spouse).

In the case of your surviving spouse, he or she may receive – if greater – 36 payments based on the amount of any Normal, Unreduced Early Retirement or Early Retirement Benefit that would have been payable to you if you had retired at the time of your death.