Spouse's Benefit. The plan recognizes that an employee could die before he/she starts to receive a retirement allowance. If such an employee has been married for at least one year and is vested, the plan provides for an immediate or future monthly payment to the eligible spouse for the rest of the spouse’s life. Effective January 1, 2011, the requirement that the employee has been married for at least one year in order to be eligible for a spouse’s traditional plan death benefit is eliminated. If the surviv- ing spouse is the same age as the employee, the monthly payment will be the amount the employee’s spouse would have received under Option II (see Paragraph c (2) of this Section 10.2) had the employee left the Company on the day of death. If an employee dies after having reached age 45 and if the employee has 15 or more years of benefit service, the eligible surviving spouse will be eligible for an immediate monthly allowance. When other eligible surviving spouses qualify for future monthly allowances depends on the employee’s age and benefit years of service at the time of death.
Spouse's Benefit. A Spouse's Benefit shall be payable to an employee's spouse in the event of the employee's death prior to the Normal Retirement Date, provided at least fifteen (15) years of Credited Service was completed and the employee has been married to the surviving spouse for at least one (1) year. The monthly amount of the Spouse's Benefit shall be one-half of the amount of Retirement Benefit which would have been payable had the deceased employee retired, rather than died, on the day before death, reduced, however, by one (1%) percent for each full year in excess of two (2) by which the deceased employee's age exceeds their Spouse's age. A minimum of fifty ($50.00) dollars per month shall be payable. Spouse's Benefit payment shall terminate with the last payment due preceding death.
Spouse's Benefit a) This benefit provides the surviving spouse with 60% of the monthly pension paid to the retired employee for as long as the spouse remains alive.
Spouse's Benefit. If the Participant dies after completion of five (5) years of Service but before benefit payments begin under the Plan, the Spouse, at the date of the Participant's death, shall be paid a monthly benefit under the Plan in the form of a life annuity calculated as under section 3.1 adjusted by applying the provisions of the Pre-Retirement Survivor Annuity under the Pension Plan.
Spouse's Benefit. A Spouse's Benefit shall be payable to an employee's spouse in the event of the employee's death prior to the Normal Retirement Date, provided at least fifteen (15) years of Credited Service was completed and the employee has been married to the surviving spouse for at least one (1) year. The monthly amount of the Spouse's Benefit shall be one half of the amount of Retirement Benefit which would have been payable had the deceased employee retired, rather than died, on the day before death, reduced, however, by one (1%) percent for each full year in excess of two (2) by which the deceased employee's age exceeds the Spouse's age. A minimum of fifty ($50.00) dollars per month shall be payable. Spouse's Benefit payments shall terminate with the last payment due preceding death. The monthly amount of the Spouse's Benefit shall be one-half of the amount of Retirement Benefit which would have been payable had the deceased employee retired, rather than died, on the day before death, reduced, however, by one (1%) percent for each full year in excess of two (2) by which the deceased employee's age exceeds the Spouse's age. A minimum of fifty ($50.00) dollars per month shall be payable. Spouse's Benefit payments shall terminate with the last payment due preceding death.
Spouse's Benefit. The Participant's surviving spouse benefit under this Section shall be equal in value to the sum of (a) and (b), with such sum then reduced by (c) where: (a) is the amount of retirement income that the Participant would have received under the 100% Contingent Annuitant Option under the Retirement Plan had the Participant retired on the date of death, (b) is the amount of the benefit under this Program after the offset of the Retirement Plan benefit the Participant would have received if he or she had retired on the date of his or her death with said 100% Contingent Annuitant Option in effect, and (c) is the amount of the annuity benefit payable to the surviving spouse under the Retirement Plan (even if the annuity is commuted to a lump sum). A.07 Payment of Post-55 Spouse's Benefit. The spouse's benefit described in Section A.06 will be payable commencing the first day of the month next following the Participant's date of death and shall terminate on the date of death of the surviving spouse. A.08 Pre-55
