Preretirement Survivor Benefit for Married Participants
If you're married, vested, and die before you retire, your spouse will automatically receive your PRSB benefit. However, if you prefer, your spouse may waive the benefit and you may name any other individual as your beneficiary. Your spouse's consent to waive the preretirement benefit must be in writing and acknowledged by a notary public.
In either case, married participants may choose to designate an additional non-spouse contingent beneficiary to receive your preretirement survivor benefit if your spouse or other non-spouse beneficiary predeceases you prior to your retirement date.
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 for 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.
I choose to keep my spouse as my primary beneficiary but wish to add a contingent beneficiary
The Preretirement Survivor Benefit will automatically be paid to your spouse if you should die prior to retirement. By choosing this option, you would also like to name a contingent beneficiary to receive your benefit in the event your spouse predeceases you prior to your retirement.
I choose to name someone other than my spouse as my primary beneficiary
With your spouse’s notarized consent, you may name any other individual as your beneficiary to receive the Preretirement Survivor Benefit instead of your spouse. In addition, you may also name a contingent beneficiary in the event your non-spouse beneficiary predeceases you prior to your retirement.