Summary Plan Description

Qualified Survivor Benefit

The Plan provides the Qualified Survivor Benefit for your spouse if you die before retirement if you meet certain eligibility requirements at the date of death.

Death Of A Participant (After August 23, 1984)

If you earned sufficient Years of Participation to be vested as explained at page 38, and die on or after August 23, 1984 and before you retire, your spouse will receive 100% of the Qualified Joint and 100% Survivor Benefit monthly benefit you would have received at the earliest date you would have been eligible to retire. The effective payment date for the Qualified Joint and 100% Survivor Benefit monthly benefit to your spouse will be the earliest date you would have been eligible to retire, or the date of your death, whichever is later. This benefit became effective on August 23, 1984 for all Contribution Rate Schedules.

Assume you earned 3 Years of Participation, with at least one contribution on your behalf after January 1, 1999, and died at age 50 in year 2000. As explained at page 38, because you had earned 3 Years of Participation you are vested but the earliest date you could retire would be age 60. Thus, your spouse will begin to receive the Qualified Joint and 100% Survivor Benefit monthly benefit effective the date you would have reached age 60, because that will be the earliest date you could have been eligible to retire.

Assume you earned 15 Years of Credited Service and died at age 50. As explained at page 24, 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 spouse will begin to receive the Qualified Joint and 100% Survivor Benefit monthly benefit effective the day you would have reached age 55, because that will be the earliest date you could have been eligible to retire.

Death Of A Participant (Prior To August 23, 1984)

If a Participant died prior to August 23, 1984, the Participant's spouse would have received one half of the Qualified Joint and 50% Survivor Benefit monthly benefit the Participant would have received if the Participant had retired on the day before death, if the Participant earned at least 15 Years of Credited Service, of which at least 5 years were Future Credited Service, and died on or after the 55th birthday, but prior to the Participant's retirement. The effective payment date of one-half of the Qualified Joint and 50% Survivor Benefit monthly benefit to the Participant's spouse was the date of the Participant's death.

Death Of Participant Who Earned 25 Years Of Credited Service

If you earned at least 25 Years of Credited Service since your last Break-in-Service Date, and die before you reach age 55, your spouse will receive the Qualified Joint and 100% Survivor Benefit monthly benefit you would have received assuming you had attained age 55 on the date you died. The effective payment date for the Qualified Joint and 100% Survivor Benefit monthly benefit to your spouse will be the date of your death. This benefit became effective on April 1, 1982 for Participants who had contributions made on their behalf at the Contribution Rate Schedule of $58 per week, and $62 per week the following year; this benefit then became effective on April 1, 1984 for all other Contribution Rate Schedules.

Example

Assume that you earned 25 Years of Credited Service and died before you reached age 55. Your spouse will be eligible to begin receiving the payment of the Qualified Joint and 100% Survivor Benefit monthly benefit effective as of the date of your death. The Qualified Joint and 100% Survivor Benefit payable to your spouse will be calculated based on the assumption of age 55 for you at the date of death, and the actual age of your spouse at the date of your death.

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