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39 | SOUND RETIREMENT

 Payments to your surviving spouse are for the spouse’s
lifetime. They do not stop if your surviving spouse remarries.
Once your surviving spouse dies, no further pension benefits
will be paid from the Plan, and

 Once you begin receiving payments under the 50% spouse
annuity, your form of payment cannot be changed – even if
you and your spouse later divorce. If your spouse died before
you, however, your monthly payments will be increased to
the amount that would have received if you had retired and
elected a single life annuity.

Reduced Payment Amount
Because the 50% spouse annuity guarantees pension benefits
for 2 lifetimes (yours and your spouse’s), the amount you receive
each month will be reduced to cover the longer payment period.
The amount of this reduction depends on the age difference (in
years and months) between you and your spouse, as shown in the
following example.

The factor applied to your pension
If your spouse is…
payment will be…
10 years younger than you 88%

Your same age 92%

5 years older than you 94%
The reductions shown are based on the spouse ages indicated. When you
retire, the percentage reduction applied to your benefit will be determined
based on the actual age difference between you and your spouse. In general,
your adjustments start with a base percentage of 92%, which is adjusted

 0.4% higher for each year your spouse is older than you, or
 0.4% lower for each year your spouse is younger than you.

If you retire with a disability pension, different spouse reductions
will apply to your monthly payments and modified payments
may be made to your spouse depending on your age at death.
Contact the Administrative Office at (206) 282-4500 or (800)
225-7620 for details.

CONTINGENT ANNUITANT BENEFIT OPTION FOR
MARRIED PARTICIPANTS
If you are married, you and your spouse may elect a contingent
annuitant benefit option from the Plan instead of the 50% spouse
annuity. The contingent annuitant benefit option works much like
the 50% spouse annuity, except that it permits you to provide
75% or 100% (whichever you choose) of your monthly payment
to your spouse following your death. This option is not available if