Summary Plan Description

Preretirement Survivor Benefit For Nonmarried Participant

The Plan provides the Preretirement Survivor Benefit for your designated beneficiary, if you are unmarried and die before retirement, and if you meet certain eligibility requirements at the date of death.

If you are unmarried, meet the vesting eligibility provisions (see Section entitled "Vested Retirement" at page 38), and die prior to retirement and on or after January 1, 1997, you will be able to provide for the payment of a preretirement survivor benefit to a designated beneficiary. The benefit paid to the beneficiary is the Ten Year Certain Benefit (see Section entitled "Ten Year Certain Benefit" at page 46), and the effective date for the payment of the benefit is the earliest date you could have retired, or the date of your death, whichever is later.

You may designate as the beneficiary any one person, or your estate. The designation of the beneficiary may be changed at any time prior to your death, and another beneficiary can be chosen if the designated beneficiary dies before you. In the event that you marry, the prior selection of the designated beneficiary will be voided.

The Fund Office will provide the appropriate form for you to elect or change the designated beneficiary. In the event that you die and you did not choose a beneficiary, or the designated beneficiary predeceased you, the benefit will be paid to your estate.

Examples

Assume that you are not married, earned 3 Years of Participation, with at least one contribution on your behalf after January 1, 1999, and died after January 1, 1999 at age 50 prior to retirement. Because you had earned 3 Years of Participation, you are vested but the earliest date you could retire would be age 60. Thus, your designated beneficiary will begin to receive the Ten Year Certain Benefit effective the date you would have reached age 60, because that will be the earliest date you would have been eligible to retire.

Assume that you are not married, earned 15 Years of Credited Service, and died after January 1, 1999 at age 50 prior to retirement. Because you had earned 15 Years of Credited Service the earliest date you could have been eligible to retire would be age 55. Thus, your designated beneficiary will begin to receive the Ten Year Certain Benefit effective the date you would have reached age 55, because that will be the earliest date you would have been eligible to retire.

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