DEATH BEFORE COMMENCEMENT OF PENSION. (a) In the event of the death of a Member who has attained vesting, while in the employment of the Company before commencement of his pension or if a member dies following his termination of employment but prior to the commencement of any deferred pension payable under the Plan, a lump sum payment equal to the contributions made on behalf of the Member by the Company, plus credited interest, shall be payable to the member’s surviving spouse, or in the absence of a surviving spouse, the member’s beneficiary.
DEATH BEFORE COMMENCEMENT OF PENSION. (ai the of the death a Member who has vesting. in the employment of Company before of his pension or if a member his termination employment but prior to the commencement any cleferred pension payable the Plan, a equal to the contributions macle on behalf of by Company, credited interest, shall be payable to the member’s surviving spouse, or in the absence of a surviving spouse, the member’s beneficiary. surviving spouse may elect, lieu lump payable in accordance Section (ai above, to receive an or deferred pension payable on or the surviving spouse attains age to be contributions xxxxx on behalf of the member by Company, plus creditetlinterest. The member’s surviving spouse elect within clays or any other period of time which prescribed under the Pension Benefits Act to receive under either Section (a) or the surviving spouse fails to an election within prescribed period of the spouse shall be to elected to receive an pension Section above. A member and spouse may jointly waive the spousal entitlement under Section in a form prescribed by Benefits Act, in which event death benefit be payable to the beneficiary in accordance with Section (a). the foregoing, a spouse who was living separate and apart the member on the date of the member’s shall not be entitled to any benefit under this Section unless such spouse is the designated
DEATH BEFORE COMMENCEMENT OF PENSION. (a) In the event of the death of a Member who has attained vesting, while in the employment of the Company before commencement of his pension or if a member dies following his termination of employment but prior to the commencement of any deferred pension payable under the Plan, a lump sum payment equal to the contributions made on behalf of the Member by the Company, plus credited interest, shall be payable to the member’s surviving spouse, or in the absence of a surviving spouse, the member’s beneficiary. The surviving spouse may elect, in lieu of the lump sum amount payable in accordance with Section
DEATH BEFORE COMMENCEMENT OF PENSION. (a) In the event of the death of a Member who has attained vesting, while in the employment of the Company before commencement of his pension or if a member dies following his termination of employment but prior to the commencement of any deferred pension payable under the Plan, a lump sum payment equal to the contributions made on behalf of the member by the Company, plus credited interest, shall be payable to the member’s surviving spouse or, in the absence of a surviving spouse, the member’s beneficiary. The surviving spouse may elect, in lieu of the lump sum amount payable in accordance with Section above, to receive an immediate or deferred pension payable on or before the surviving spouse attains age equal to the contributions made on behalf of the member by the Company, plus credited interest. The member’s surviving spouse must elect within days or any other period of time which may be prescribed under the Benefits Act to receive payment under either Section or Section If the surviving spouse fails to make an election within the prescribed period of time, the spouse shall be deemed to have elected to an immediate pension under Section above. A member and his spouse may jointly waive the entitlement under Section in a form by the Pension Benefits Act, in which event the death benefit would be payable to the beneficiary accordance with Section Notwithstanding the foregoing, a spouse who was living separate and apart from the member on the date of the member’s death shall not be entitled to any benefit under this Section unless such spouse is the member’s designated beneficiary.
DEATH BEFORE COMMENCEMENT OF PENSION. (a) In the event of the death of a Member who has attained vesting, whiFe in the empFoyment of the Company before commencement of his pension or if a member dies foFFowing his termination of empFoyment but prior to the commencement of any deferred pension payabFe under the PFan, a Fump sum payment equaF to the contributions made on behaFf of the Member by the Company, pFus credited interest, xxxXX be payabFe to the member's surviving spouse, or in the absence of a surviving spouse, the member's beneficiary.
