Page 45 - Pay'n Save Retirement Truat fund

43 | SOUND RETIREMENT

DEATH BENEFITS

If you die, the Plan provides benefits to your surviving spouse
if you have met certain conditions. Survivor benefits depend on
whether your death occurs before or after retirement.

IF YOU DIE BEFORE RETIREMENT

If you have 5 or more years of credited service (with at least 1
or more years of credited future service), your surviving spouse
is eligible for pre-retirement death benefits in the event of your
death.

If You Are Married
If you are legally married and vested in your pension benefit when
you die, your surviving spouse’s benefit is figured as if you had
retired the day before your death and elected the 50% spouse
option.
Payments will begin on the first of the month on or immediately
after receipt of your spouse’s application, unless you died before
you were eligible for early retirement. In that case, your spouse’s
survivor benefit will be calculated as if you had lived until early
retirement and died the next day. Payments to your survivor may
not begin until the date you would have been eligible to retire.
For example, if you have 15 years of credited service and die at
age 45, payment of a 50% spouse benefit may not begin until
after the first of the month following the date you would have
reached age 55.

If You Are Not Married

If you are not legally married when you die, there is no benefit
payable after your death, unless a QDRO provides a pre-
retirement death benefit to your former spouse. Your surviving
family members will not receive a death benefit.

IF YOU DIE AFTER RETIREMENT
If you die after you retire, the form of payment you elected when
you retired will govern the death benefit which is payable after
your death.