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Optional Forms Of Benefits
Rather than the normal form of benefit described in the
preceding section, you may elect instead one of the following four optional
forms of benefits:
- joint and survivor annuity (50% , 66-2/3% , 100% ),
- life annuity with 120 monthly payments guaranteed,
- level payment option which recognizes your entitlement
to Social Security, or
- single life annuity
Remember that, if you are married, you and your spouse must
reject the qualified joint and survivor annuity in writing, on a notarized form
before choosing an optional form of benefit.
If you are not married, the standard form of benefit payment
is a single life annuity. However, you may alternatively elect the optional
forms of benefits described in this section.
If the total value of your pension benefit is less than
$5,000, the Trustees will automatically pay you your total pension benefit in
a lump sum.
Major Topics
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