For purposes of determining the Normal Form of Benefit Payment which applies to a Participant and the election
and calculation of the Husband-and-Wife Pension, a Spouse is the person to whom an Employee is married under the law
of the state in which the Participant resides on the Effective Date of a Participant's benefit. For purposes of the
Preretirement Surviving Spouse Benefit, the Spouse is the person to whom the Participant was married on the date of
the Participant's death.
A former Spouse is considered a Spouse for purposes of this Plan if required by a Qualified Domestic Relations Order
which is issued by a court and approved by the Plan before a benefit is distributed. If the Plan receives notice that a
Participant's marital status is changing while the Plan is processing an application for payment of the Participant's
Individual Account or the Plan receives notice that all or a portion of the Participant's Individual Account may be payable
to an Alternate Payee, the Plan may delay the distribution of the Participant's Individual Account until the effect of the
change in marital status may be taken into account or a determination made concerning the status of the claimed Alternate
- Any distribution in excess of $5000 to a Participant who is married on the Effective Date of his benefits will be paid
in the form of a 50% Husband-and-Wife Pension, unless the Participant and Spouse elect otherwise in accordance with
- A 50% Husband-and-Wife Pension means that the Participant will receive a monthly amount for life and, if the
Participant dies before his or her Spouse, the Spouse will receive a monthly benefit for his or her lifetime that is 50%
of the monthly amount the Participant received during the Participant's lifetime. The monthly benefits will be at the
level payable under an insurance contract that is the actuarial equivalent of the Participant's Individual Account as of
the date of distribution, determined in accordance with Section 6.04.
- Once payment of the 50% Husband-and-Wife Pension begins, it cannot be revoked. If, after that point, the Spouse dies
before the Participant, the Participant's monthly pension benefit will not be increased, and no one can be substituted
as the Participant's Beneficiary in place of the Spouse.
- In the event of a divorce between the Spouse and the Participant after the 50% Husband-and-Wife Pension becomes
effective, the former Spouse will be treated as the Spouse of the Participant for the purpose of the Husband-and Wife
Pension and will be entitled to receive the survivor pension benefits if the Participant dies before the former Spouse
unless a Qualified Domestic Relations Order provides otherwise.
- A married Participant who applies for a distribution from his Individual Account will be advised by the Trustees of
the estimated effect of payment in the form of the 50% Husband-and-Wife Pension, including a comparison between the
estimated monthly pension benefits and the amount that would be paid in a single payment.
- If there is a valid waiver of the 50% Husband-and-Wife Pension, the Participant's Individual Account will be paid
out in accordance with Section 5.05.
- A Participant and Spouse will only be permitted to make an election concerning the 50% Husband-and-Wife Pension
when the Participant applies for a Retirement Benefit under Section 5.02 or a Separation Benefit under Section 5.03.
- If a Participant who has a Spouse dies before distribution of his Individual Account has begun, a Preretirement
Surviving Spouse Benefit will be paid to his surviving Spouse.
- The Preretirement Surviving Spouse Benefit is a monthly pension benefit for the life of the Spouse that is the
actuarial equivalent, determined in accordance with Section 6.04, of 50% of the Participant's Individual Account as
of the date of the Participant's death.
- Except as provided below or in Section 6.05, the Preretirement Surviving Spouse Benefit will be payable as
described in subsection (b) above starting as of the Effective Date of benefits in accordance with Section 7.01(c)
after the date the Surviving Spouse applies for payments in the manner prescribed by the Trustees, including submission
of any and all information that they require to process the claim and arrange for the commencement of payments.
- A Surviving Spouse may not postpone the commencement of benefit payments beyond the April 1st following the calendar
year in which the Participant would have reached age 70 ½ .
- A Spouse may elect to receive the Preretirement Surviving Spouse Benefit in a single payment instead of a lifetime
pension. If the Spouse is the Participant's Beneficiary for his entire Individual Account, the Spouse may elect to
receive a pension that is the actuarial equivalent of the entire Individual Account, determined in accordance with
Section 6.04. The Spouse's election must be in writing, must acknowledge the effect of the election, and must be
witnessed by a Notary Public or Plan official.
For purposes of this Article, the following principles will apply in determining the actuarial equivalent of a
Participant's Individual Account:
- The value of a Participant's Individual Account will be in accordance with Article IV as of the date for which
the value is to be determined. The value of the account will be adjusted as of each subsequent Valuation Date, until
the amount in the Individual Account is distributed by purchase of an annuity or otherwise.
- The conversion of an Accumulated Share, or part of it, to an actuarially equivalent pension shall be based on the
actuarial assumptions and other terms prescribed by an insurance company selected to issue the pension. These need not
be the same factors (or the same insurance company) used to estimate the pension benefits for purposes of informing
the Participant and/or Spouse about the effect of receiving the benefit in a pension form.
- Fees and other costs directly incurred in connection with the purchase of a pension from an insurance company
will be deducted from the Individual Account immediately before the purchase.
The 50% Husband-and-Wife Pension may only be waived in accordance with this Section.
- The Participant must file the waiver in writing in the form that the Trustees require. The Participant's Spouse
must acknowledge the effect of the waiver and must consent to it in writing. The Spouse must also consent to a
specified Beneficiary or Beneficiaries and to a specified optional benefit form. The Spouse's consent must be
witnessed by a Notary Public or Plan official. The Participant may not subsequently change the designated Beneficiary
or Beneficiaries or the optional benefit form without the consent of the Spouse, or
- the Participant must establish to the satisfaction of the Trustees that a waiver is not required because:
- the Participant is not married;
- the Spouse whose consent would be required cannot be located; or
- consent of the Spouse cannot be obtained because of extenuating circumstances, as provided in IRS regulations.
- To be timely, a waiver of the 50% Husband-and-Wife Pension and any required consent must be filed within the
time period provided in Section 7.01(c). To be valid such a waiver must be made after the Participant and Spouse
have been provided with information which includes a general explanation of the 50% Husband-and-Wife Pension, the
circumstances in which it will be provided unless the Participant and Spouse elect otherwise, the availability of
the election, the estimated effect of the 50% Husband-and-Wife Pension and the eligibility conditions and other
material features of the optional forms of benefits provided under the Plan including the relative values of the
optional forms. The Participant and Spouse may revoke a previous waiver or file a new waiver at any time after the
receipt of the information referred to in this subsection and before benefits payments to the Participant actually
- A Spouse's consent to a waiver is effective only for that Spouse.
Unless the Trustees determine otherwise, any lifetime pension benefits payable under this Plan will be provided
by the purchase of an irrevocable annuity contract from an insurance company. The purchase of the annuity contract
from the insurance company will discharge the Trustees' obligations to the Participant and/or Spouse and thereafter
the payment of benefits under the annuity contract, and any other matters relating to the administration of the
benefit, will be the sole responsibility of the insurance company.
The Trustees will be entitled to rely on written representations, consents, and revocations submitted by
Participants, Spouses, or other parties in making determinations under this Article and, unless such reliance is
arbitrary or capricious, the Trustees' determinations will be final and binding, and will discharge the Fund and
the Trustees from liability to the extent of the payments made. This means that, unless the Plan is administered
in a manner determined to be inconsistent with the fiduciary standards of Part 4 of Title I of the Act, the Fund
will not be liable under this Article for duplicate benefits with respect to the same Participant's Individual
Account determined as of the date scheduled for the start of payments to the Participant or, if earlier, the date
of the Participant's death.