Death Benefits
No post retirement death benefits are payable unless by reason of an Option selected prior to retirement (see Section entitled Optional Forms of Retirement Benefits).
Pre-Retirement Death
Benefit for Vested Members -
Lay Employees
A pre-retirement death benefit will be paid on your behalf whether or not you are actively employed, if you have a vested right to any portion of your accrued benefit and die prior to commencement of benefits.
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Members Eligible for Early or Normal Retirement
If you have fulfilled the requirements for Early or Normal Retirement and have not commenced receipt of benefits, a survivorship benefit shall be payable equal to 50% of the Actuarially Equivalent single sum value of your vested accrued benefit as of your date of death. If the single sum value is $7,000, or less, the benefit shall be paid in a lump sum. If the single sum value exceeds $7,000, the benefit shall be paid in the form of a monthly survivor annuity unless the beneficiary and the Board of Trustees agree to an alternative Actuarially Equivalent form of benefit that satisfies the minimum distribution rules of the Internal Revenue Code. The benefits shall be paid as soon as the required calculations and paperwork are completed following your death.
The survivor benefits shall be payable to your spouse, if you have one, unless, with your spouse’s written consent, a different Beneficiary is designated by you. In the event that you are not married at the time of your death or the spousal marriage requirements are not met, the survivor benefit shall be paid to your designated Beneficiary. Please refer to Section 4 of Optional Forms of Retirement Benefits regarding Qualified Joint and Survivor Annuities for details about spousal consent.
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Members Not Eligible for Early or Normal Retirement
If you have not fulfilled the requirements for Early or Normal Retirement, a survivorship benefit shall be payable equal to 50% of the Actuarially Equivalent single sum value of your vested Accrued Benefit as of your date of death. This single sum shall be paid to your Beneficiary as soon as is practicable following your death. If the single sum amount exceeds $20,000, the benefit shall be paid in the form of a monthly survivor annuity. This annuity shall commence on the earliest date under the Plan on which you could have commenced receiving retirement benefits, or if the Beneficiary(ies) so elects, the benefit will commence upon approved application for benefits in a monthly survivor annuity which is actuarially equivalent.
Pre-Retirement Death
Benefit for Vested Members-Religious Sisters and Brothers
The Plan does not provide for a pre-retirement death benefit for Religious Sisters and Brothers.
Pre-Retirement Death
Benefit for
Non-Vested Members
No pre-retirement death benefits are payable on your behalf if you are not vested.
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