Preretirement Survivor Benefit


Preretirement Survivor Benefit - Married

A vested married participant may provide a lifetime benefit to a spouse or other named loved one should they die prior to retirement


Preretirement Survivor Benefit - Unmarried

A vested unmarried participant may name up to two beneficiaries under this coverage. You may be able to provide a lifetime benefit to someone you love if you die prior to retirement.

The Plan includes a Preretirement Survivor Benefit for your spouse or other named beneficiary in case you die after you're vested, but before you retire. The Plan will pay a Preretirement Survivor Benefit equal to 50 percent of the reduced pension benefit you would have received under the Joint and Survivor benefit payment form if you are vested and die:

  • While in active service, or
  • While receiving a pension disability benefit, or
  • After you terminate employment but before you retire while you are entitled to a deferred vested benefit.

If you are married, vested, and die before you retire, your spouse will automatically receive the PRSB benefit. You and your spouse may waive the benefit and name any other individual as your beneficiary by completing the PRSB Beneficiary Designation Form - Married Participants.

If you are single, widowed or divorced, vested, and were in active covered employment on or after January 1, 2002, you can designate up to two individuals to receive your pension benefit in the event of your death. To qualify, you must complete the PRSB Beneficiary Designation Form - Unmarried Participants. The 50% Preretirement Survivor Benefit will be split equally between the named beneficiary(s).

Please be aware, if you're married, younger than age 35 and elected a non-spouse beneficiary, your beneficiary election will automatically be revoked on the first day of the calendar year in which you reach age 35. Therefore, to elect a non-spouse as your beneficiary, you must file a new PRSB Beneficiary Designation Form - Married Participants with the Pension Plan on or after the first day of the calendar year in which you will turn 35. If you don't make a new election, and are still married when you die, your PRSB death benefit will automatically be paid to your spouse.