Vesting
Retirement Options
Normal Retirement
Early Retirement (Reduced)
Early Retirement (Unreduced)
Forms of Payment
Joint & Survivor
5-Year Certain
10-Year Certain
Contingent Annuitant
Preretirement survivor
Disability Pension
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Trustees
|
Joint and Survivor |
If you're married,
you'll automatically receive a reduced pension benefit for the rest
of your life. When you die,
your spouse will receive one-half of your reduced pension payment
for the rest of his or her life. You can waive this form of payment
(with your spouse's written consent) and choose one of the
following. |
|
| Five Year Certain |
If you're single,
widowed, divorced, or have waived the Joint and Survivor form,
you'll automatically receive the Five Year
Certain pension benefit. This benefit payment form guarantees you a
full benefit for the rest of your life. If you die after you retire,
but before you receive the first 60 payments, your beneficiary(ies) will
receive the remainder of the five years' worth of payments. You can
waive this form of payment and choose one of the following payment
forms. |
|
|
Ten Year Certain
|
The Ten Year
Certain option provides a reduced lifetime pension benefit. If
you die after you retire, but before
you receive the first 120 payments, your beneficiary(ies) will receive the remainder of the ten years' worth
of payments. |
|
| Contingent Annuitant | The Contingent Annuitant option provides a reduced lifetime benefit. If you die after you retire, but before you receive the first 60 payments, your beneficiary will receive any remaining full benefit payments. After that, your beneficiary will receive your choice of 50%, 662/3%, or 100% of your reduced monthly pension benefit for the rest of his or her life. |