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Pension Plan
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Surviving Spouse Benefit

Eligibility for the Surviving Spouse Benefit

If a Participant dies before retirement and is survived by a spouse to whom the Participant has been married for at least one year, in lieu of a Normal or Screen Credit Death Benefit, the surviving spouse will be entitled to a Surviving Spouse Benefit provided the Participant is vested on the date of his or her death (see page 7). If a Participant dies before retirement and is survived by a Qualified Domestic Partner Your same-sex domestic partner for whom you have submitted to the Administrative Office an Affidavit of Domestic Partnership, along with supporting documentation, and who meets the criteria in such Affidavit. Generally, the Participant and domestic partner must have a committed same-sex relationship similar to marriage that has been in existence for at least six months. No person shall be considered a Qualified Domestic Partner prior to the time a complete Affidavit has been submitted to the Administrative Office. for whom an Affidavit of Domestic Partnership has been on file with the Administrative Office for at least one year, the surviving Qualified Domestic Partner will be entitled to the Surviving Spouse Benefit in lieu of a Normal or Screen Credit Death Benefit, provided the Participant is vested on the date of his or her death. The Participant, with the written and notarized consent of his or her spouse or Qualified Domestic Partner, may waive the Surviving Spouse Benefit and elect the Normal Death Benefit by filing a beneficiaryThis term means the person or persons whom a Participant last designates to receive benefits in the event of his or her death. However, if you have been married at least one year at the time of your death, your spouse will be your Beneficiary unless you and your spouse select a different Beneficiary. If an Affidavit of Domestic Partnership has been on file with the Administrative Office for at least one year at the time of your death, your Qualified Domestic Partner will be your Beneficiary, unless you select a different Beneficiary. If there is no surviving designated Beneficiary, please refer to Section: NAMING OR CHANGING A BENEFICIARY BEFORE RETIREMENT on page 33 for details about the Plan's rules for designating a beneficiary and for paying benefits to a minor. Beneficiary designation forms are available from the Administrative Office. form (naming someone other than the spouse) with the Administrative Office prior to his or her death (or by the Participant's spouse or Qualified Domestic Partner consenting to the survivor benefit elected by the Participant during the 180-day period prior to retirement).

If the Surviving Spouse Benefit is payable, the Normal Death Benefit (or the Screen Credit Death Benefit) will not be paid, unless the Surviving Spouse Benefit is waived. Spousal or Qualified Domestic Partner consent will not be required if it is established to the satisfaction of the Directors that such consent may not be obtained because (i) the Participant does not have a Spouse or Qualified Domestic Partner, (ii) the Spouse or Qualified Domestic Partner cannot be located, or (iii) of such other circumstances as may be prescribed by the IRS regulations. Any waiver made by a Surviving Spouse or Qualified Domestic Partner prior to the first day of the Plan Year in which the Participant attained age 35 will automatically become invalid on that date.

Consent by a spouse other than the Surviving Spouse or Qualified Domestic Partner will not be valid. Revocation of a prior waiver may be made by the Participant without the consent of the Surviving Spouse or Qualified Domestic Partner at any time before the Participant's death; provided that any new waiver or change of Beneficiaries will require new spousal or Qualified Domestic Partner Your same sex domestic partner for whom you have submitted to the Administrative Office an Affidavit of Domestic Partnership with the Pension Plan, along with supporting documentation, and who meets the criteria in such Affidavit. Generally, the Participant and domestic partner must have a committed same sex relationship similar to marriage that has been in existence for at least six months. No person shall be considered a Qualified Domestic Partner prior to the time a complete Affidavit has been submitted to the Administrative Office. consent.

Commencement Date

If the Participant has reached age 52 on the date of his or her death, the Surviving Spouse may elect to begin benefits on the first of the month coinciding with or next following the month in which the Participant dies, and the benefits will continue through the month in which the spouse or Qualified Domestic Partner dies. However, if such election is made after 90 days of the death of the Participant, then the benefits will begin the first of the month following the date in which the election is received by the Administrative Office.

If the Participant is younger than age 52 on the date of his or her death, the Surviving Spouse Benefit may elect to begin benefits on the first of the month coinciding with or next following the month in which the Participant would have attained age 52 had the Participant lived and will continue through the month in which the spouse or Qualified Domestic Partner dies. However, if such election is made after 90 days of the death of the Participant and after the Participant would have attained age 52, then the benefits will begin the first of the month following the date in which the election is received by the Administrative Office.

The spouse or Qualified Domestic Partner may elect to postpone the commencement of benefits but payments must begin no later than the first of the month following the month in which the Participant would have attained age 65 or, if later, the December 31 of the year following the year of the Participant's death.

Amount of Surviving Spouse Benefit

The amount of the Surviving Spouse Benefit is the survivor portion of the Joint and 50% Survivor Annuity paid as described below. The amount of the Surviving Spouse Benefit will be calculated as if the Participant had elected to retire under a Joint and 50% Survivor Annuity on the Commencement Date described above. In any case, payments to the spouse or Qualified Domestic Partner may not begin until after the Participant would have attained age 52 had he or she lived.

The Surviving Spouse Benefit will include a reduction for early retirement if it begins prior to the date the Participant would have attained age 63 or 65 if the Participant had compensation limited by the Internal Revenue Code in any Plan Year or a late retirement adjustment if applicable.

Election by Surviving Spouse or Qualified Domestic Partner To Receive Lump Sum

A surviving spouse or Qualified Domestic Partner who is eligible to receive the Surviving Spouse Benefit may elect to receive a lump sum instead of the Surviving Spouse Benefit. The lump sum will be the greater of (1) the Normal Death Benefit or (2) the actuarial equivalent of the Surviving Spouse Benefit. When the Directors receive notice of a Participant's death, they will request documentation, such as a certified death certificate. Once sufficient documentation is received from the Participant's spouse or Qualified Domestic Partner, the Directors will send the surviving spouse or Qualified Domestic Partner an explanation of the amount of benefits payable under each type of death benefit. The spouse or Qualified Domestic Partner will then have 180 days to elect the type of death benefit preferred. Such an election cannot be changed once payments have begun. If the surviving spouse or Qualified Domestic Partner does not make an election within the 180 day period, the surviving spouse or Qualified Domestic Partner will be considered to have waived his or her right to elect a lump sum in lieu of the Surviving Spouse Benefit. If the value of the Surviving Spouse Benefit is $5,000 or less, then a lump-sum payment is the only payment option available and will be made by the Plan.