- If you retire with a Joint and Survivor Pension, the Plan will pay your spouse a Survivor benefit beginning upon your death.
- The Plan provides a pre-retirement surviving spouse benefit if you die before beginning your pension.
- The Plan provides a death benefit for your designated beneficiary in the event of your death before or after retirement.
The primary purpose of the Pension Plan is to provide you with income during retirement. However, the Plan may provide some financial security to your spouse or beneficiary after you die.
Your age and vesting status at the time of your death determines which type of benefit your spouse or other beneficiary (if you are not married) will receive. Only one type of benefit will be paid. Benefits of $5,000 or less will be paid in a lump sum regardless of eligibility for other types of survivor benefits.