Common use of Death Benefit After Early or Normal Retirement Clause in Contracts

Death Benefit After Early or Normal Retirement. Current Plan: A lump sum death benefit of $1,000.00 is paid to the Participant’s Designated Beneficiary upon the death of a Participant after his Early or Normal

Death Benefit After Early or Normal Retirement. Current Plan: A lump sum death benefit of $1,000.00 is paid to the Participant’s 's Designated Beneficiary upon the death of a Participant after his Early or NormalNormal Retirement Date. If a Retired Participant' s spouse dies while the Retired Participant is still living, a lump-sum Death Benefit of $500.00 will be paid to the Participant. Option 2: Under the Option 2 Rehabilitation Plan, this provision is eliminated for deaths occurring on or after June 1, 2009.