Page 71 - Pay'n Save Retirement Truat fund

69 | SOUND RETIREMENT

CONTINGENT ANNUITANT BENEFIT OPTION
If you are married, you and your spouse may elect a contingent
annuitant benefit option from the Sound 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. If you are receiving
a disability pension, you may change your disability retirement
payment to a contingent annuity benefit option only once you
reach age 65 (unless you are already receiving your benefit as a
50% spouse annuity).

You must choose this option before your first pension payment
is issued. The option can only be revoked if notice is given to the
Trustees before your pension starts.

See pages 39 - 42 for the factors under the Sound Plan.

Under the Drug Plan, the factor used for your contingent
annuitant benefit option depends on the annuity form you select
and the age difference between you and your spouse, as shown in
the following table.

If you select the Plus this Or minus this
following Your base percentage for percentage for
contingent annuity adjustment factor each year your each year your
option under the will be… spouse is older spouse is younger
Drug Plan… than you… than you…

100% annuity 87% +0.5% −0.5%

You must choose this option before your first pension payment
is issued. The option can only be revoked if notice is given to the
Trustees before your pension starts.