Common use of Pre-Retirement Spouse Death Benefit Clause in Contracts

Pre-Retirement Spouse Death Benefit. Upon the death of a participant at least age 55 with 15 years of service who was an active employee at the time of his death and who was married at least one year at the time of his death, in lieu of a refund of the deceased employee's contributions, his spouse shall be entitled to a monthly retirement benefit calculated as if the participant had retired on his date of death and elected a 50% (100%) joint and survivor option. Such computation shall include the adjustment for early retirement and the election of the joint and survivor option, the spouse would then receive 50% (100%) of such reduced amount. An "active employee" for purpose of this section is an employee actively at work, on Weekly Indemnity benefits, on L.T.D. benefits or on W.C.B. benefits.

Pre-Retirement Spouse Death Benefit. Upon the death of a participant at least age 55 with 15 years of service who was an active employee at the time of his death and who was married at least one year at the time of his death, in lieu of a refund of the deceased employee's contributions, his spouse shall be entitled to a monthly retirement benefit calculated as if the participant had retired on his date of death and elected a 50% (100%) joint and survivor option. Such computation shall include the adjustment for early retirement and the election of the joint and survivor option, the spouse would then receive 50% (100%) of such reduced amount. An "active employee" for purpose of this section is an employee actively at work, on Weekly Indemnity benefits, on L.T.D. benefits or on W.C.B. W.S.I.B. benefits.