Benefits on Death after Retirement. Retirement income benefits are payable for the remaining lifetime of a retired member with the guarantee that, if the member dies before a total of sixty (60) monthly benefit payments have been made, the balance of such payments will be continued to his beneficiary, or provide for commutation of the benefits for the balance of the guarantee period to the estate. Prior to his date of retirement, a member may, however, elect to have his retirement income benefit paid in optional form and in such event, the benefits, if any, payable following the death of the member will be determined in accordance with the terms and conditions of such optional form. Optional forms available under the Plan include:
Benefits on Death after Retirement. If the death of a Member occurs after his pension has commenced, any benefits due in accordance with the retirement option elected by the Member at retirement shall be paid to his eligible spouse or beneficiary.
Benefits on Death after Retirement. If the joint and survivor pension outlined in section 9 is waived or if the Member does not have an eligible spouse at retirement, the Member’s pension shall be payable during the Member’s lifetime and shall cease upon their death. Upon retirement, the Member may elect an optional form of pension.
