Benefits on Death after Retirement Sample Clauses

Benefits on Death after Retirement. Retirement income benefits are payable for the remaining lifetime of a retired member with the guarantee that, if the member dies before a total of sixty (60) monthly benefit payments have been made, the balance of such payments will be continued to his beneficiary, or provide for commutation of the benefits for the balance of the guarantee period to the estate. Prior to his date of retirement, a member may, however, elect to have his retirement income benefit paid in optional form and in such event, the benefits, if any, payable following the death of the member will be determined in accordance with the terms and conditions of such optional form. Optional forms available under the Plan include:
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Benefits on Death after Retirement. If the death of a Member occurs after his pension has commenced, any benefits due in accordance with the retirement option elected by the Member at retirement shall be paid to his eligible spouse or beneficiary.
Benefits on Death after Retirement. If the joint and survivor pension outlined in section 9 is waived or if the Member does not have an eligible spouse at retirement, the Member’s pension shall be payable during the Member’s lifetime and shall cease upon their death. Upon retirement, the Member may elect an optional form of pension.

Related to Benefits on Death after Retirement

  • VESTED RETIREMENT GRATUITY VOLUNTARY EARLY PAYOUT a) An Employee eligible for a Sick Leave Credit retirement gratuity as per Appendix A shall have the option of receiving a payout of his/her gratuity on August 31, 2016, or on the employee’s normal retirement date.

  • Disability Retirement If, as a result of your incapacity due to physical or mental illness, You shall have been absent from the full-time performance of your duties with the Company for 6 consecutive months, and within 30 days after written notice of termination is given You shall not have returned to the full-time performance of your duties, your employment may be terminated for "Disability." Termination of your employment by the Company or You due to your "Retirement" shall mean termination in accordance with the Company's retirement policy, including early retirement, generally applicable to its salaried employees or in accordance with any retirement arrangement established with your consent with respect to You.

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