Service Employees 32BJ North Pension Fund

North Pension Fund Summary Plan Description (SPD) >> Pre-Retirement Husband and Wife Death Benefit

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If you predecease your Spouse prior to your Pension Start Date and are Vested at the time of your death, your Surviving Spouse is entitled to a Pre-Retirement Husband and Wife Death Benefit. The amount of this benefit is equal to 50% of your accrued benefit, which is then reduced based upon the ages of you and your Spouse. However, effective March 1, 2008, if your Spouse has applied for a benefit and the present value of the Pre-Retirement Husband and Wife Death Benefit as of your Spouse’s Pension Start Date is $5,000 or less, the Fund will pay the benefit to your Spouse as a single lump-sum payment.

Your Surviving Spouse will receive the Pre-Retirement Husband and Wife Benefit as monthly payments for his or her lifetime. Benefit payments will commence on the later of a) your Normal Retirement Age; b) the first of the month following the date of your death; or c) such later date as the Surviving Spouse may elect, subject to applicable rules under law.

Your Surviving Spouse may also elect to start payment of his/her benefit on the first day of the month following the date you would have attained age 60. However, the amount payable to your Surviving Spouse will be reduced by 0.5% for each month (6% per year) by which this date precedes the date you would have attained your Normal Retirement Age.

The Pre-Retirement Husband and Wife Benefit may not be paid to anyone other than your Spouse, unless a QDRO provides payment to a former spouse. If your Spouse dies before the date the benefit is to commence, no benefits are payable under the Plan.