Common use of Joint and Survivor Pension Clause in Contracts

Joint and Survivor Pension. A Member who retires with an eligible spouse shall receive a joint and survivor pension unless the Member and spouse deliver to the Plan Administrator a written waiver of such entitlement, in the prescribed form and within the twelve month period immediately preceding retirement. Unless the joint and survivor pension is waived, the Member's lifetime pension shall be reduced by 10% and, upon the Member's death, his/her eligible surviving spouse shall receive a pension equal to 60% of the lifetime pension being paid to the Member immediately prior to his/her death and shall continue throughout the remaining lifetime of the spouse. Further, the lifetime pension shall be subject to actuarial reduction to the extent the spouse is more than 10 years younger than the Member.

Joint and Survivor Pension. A Member who retires member with an eligible spouse who takes Normal, Special Early, 85 Point, or other Early Retirement on or after January 1, 2019, shall receive a joint and survivor pension unless the Member persons entitled to the joint and spouse survivor pension deliver to the Plan Administrator a written waiver of such entitlement, entitlement in the prescribed form and within the period of twelve month period months immediately preceding retirementthe commencement of payment of the pension benefit. Unless the joint and survivor pension is waived, the Membermember's accrued pension and lifetime pension supplement, if any, shall be reduced by 10% and, upon the Member's during his lifetime. Upon his death, his/her his eligible surviving spouse shall receive a pension equal to of 60% of the member's reduced accrued pension and lifetime pension being paid to the Member immediately prior to his/her death and shall continue throughout the remaining lifetime of the spouse. Furthersupplement, the lifetime pension shall be if any, (subject to actuarial reduction to the extent the if such spouse is more than 10 years younger than the Membermember).

Joint and Survivor Pension. A Member who retires with an eligible spouse shall receive a joint and survivor pension unless the Member and spouse deliver to the Plan Administrator a written waiver of such entitlement, in the prescribed form and within the twelve month period immediately preceding retirement. Unless the joint and survivor pension is waived, the Member's ’s lifetime pension shall be reduced by 10% and, upon the Member's ’s death, his/her eligible surviving spouse shall receive a pension equal to 60% of the lifetime pension being paid to the Member immediately prior to his/her death and shall continue throughout the remaining lifetime of the spouse. Further, the lifetime pension shall be subject to actuarial reduction to the extent the spouse is more than 10 years younger than the Member.