Benefits on Death before Retirement. If an active Member dies after age 55, his/her eligible spouse shall receive an immediate pension from the Pension Plan equal to 50% of the Member’s Accrued Retirement Pension as determined at the date of the Member’s death. In no event shall the Member’s beneficiary or eligible spouse, as applicable, receive less than 100% of the value of the vested benefits earned in respect of service on or after 1986 plus a refund of contributions in respect of service before 1987.
Benefits on Death before Retirement. If an active Member dies having completed 10 years of continuous service, their eligible spouse shall receive an immediate pension from the Plan, subject to adjustment under Section 12, equal to 50% of the Member’s Accrued Retirement Pension as determined at the date of the Member’s death. The value of the monthly pension payable to the spouse cannot be less than 60% of the value of the vested benefits earned in respect of service on or after December 31, 1992. In lieu of the monthly pension otherwise payable, an eligible spouse may elect to receive the commuted value of the pension as a lump sum payment. If an active Member dies on or after age 55, the Plan will assume the deceased member retired on their date of death.
Benefits on Death before Retirement. If an active Member dies having completed years of continuous serv- ice, eligible spouse shall receive an immediate pension from the Plan, subject to adjustment under Section equal to of the Member’s Accrued Retirement Pension as determined at the date of the Member’s death. The value of the monthly pension payable to the spouse cannot be less than of the value of the vested benefits earned in respect of service on or after December In lieu of the monthly pension otherwise payable, an eligible spouse may elect to receive the commuted value of the pension as a lump sum payment. If an active Member dies on or after age the Plan will assume the deceased member retired on his date of death.
