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Death Benefits | Print |

How are death benefits paid?

If you die before you receive any payment from the Plan, your beneficiary will receive a distribution of your entire account balance in a lump sum payment. No other death benefits are paid from this Plan. The Plan permits you to designate the beneficiary of your choice to receive your
account balance in the Plan if you die. If your beneficiary is your spouse, payment will be made as soon a possible following the later of (i) the date you would have reached age 65 if you survived or (ii) your date of death. If you die before age 65, your spouse may elect to have benefits paid on the first day of any calendar month following your date of death. If your beneficiary is not your spouse, your beneficiary will receive the death benefit as soon as possible after your death. However, if your beneficiary is a minor at the time of your death, the Employer may direct that payment be paid to a legal guardian, or if none, to a parent of the beneficiary or a responsible adult with whom the beneficiary maintains his residence or to the custodian for the beneficiary under the Uniform Gifts to Minors Act or similar statute.