Common use of Death Before Retirement Clause in Contracts

Death Before Retirement. In the event of the death of any employee who has completed 2 years of continuous service as a member of the Pension Plan, there shall be paid the actuarial equivalent of the benefits payable at normal retirement with respect to credited service subsequent to December 31, 1986, plus any required contributions with interest to date of death, minus any lump sum benefit amount payable to the employee’s Spouse under the Company’s survivor benefit insurance plan. If the employee does not have a Spouse at the time of the death, such benefit would be paid to the named Beneficiary.

Death Before Retirement. In the event of the death of any employee who has completed 2 years of continuous service as a member of the Pension Plan, there shall be paid the actuarial equivalent of the benefits payable at normal retirement with respect to credited service subsequent to December 31, 1986, plus any required contributions with interest to date of death, minus any lump sum benefit amount payable to the employee’s Spouse under the Company’s survivor benefit insurance plan. If the employee does not have a Spouse at the time of the death, such benefit would be paid to the named Beneficiary.

Death Before Retirement. In the event of the death of any employee who has completed 2 years of continuous service as a member of the Pension Plan, there shall be paid the actuarial equivalent of the benefits payable at normal retirement with respect to credited service subsequent to December 31January 1, 1986, plus any required contributions with interest 1988 to date of death, minus any lump sum benefit amount payable to the employee’s Spouse under the Company’s survivor benefit insurance planSpouse. If the employee does not have a Spouse at the time of the death, such benefit would be paid to the named Beneficiary.