Survivor Benefits

Before Retirement

In the event of your death prior to retirement, an amount equal to the value of your pension plan account (member and employer contributions, plus the earnings associated with those contributions) shall be payable to your spouse or beneficiary.


Your spouse is entitled to receive the death benefit outlined above in one of the following forms:


      - a tax-free transfer to an insurance company to purchase an immediate or

        deferred life annuity commencing no later than the end of the calendar year

        in which the spouse reaches age 71;

      - a tax-free transfer to another registered pension plan, if permitted by that plan, or

      - a tax-free transfer to a Locked-in Retirement Account (LIRA) which must be

        used to provide an annuity at retirement.


If you do not have a spouse at the time of death, the benfit will be paid to your beneficiary or estate in the form of a lump sum cash payment.



After Retirement

In the evenet of you death after retirement, the death benefit is based on the form of annuity you elected at retirement.


      If you elected a joint and survivor annuity, the benefit will continue to your

      spouse at 75%, 66 2/3%, 60% or an amount less than 60% provided your

      spouse signed a waiver.


      If you elected a single life annuity, the benefit will continue to your

      beneficiary for the balance of the 5, 10, or 15 year guarantee period.  If

      you pass way within the guarantee period and do not have a beneficiary at

      the time of death, the remaining balance of guaranteed payments shall be

      commuted and paid in a lump sum to your estate.  If you pass away after

      the guarantee period has expired, no further benefits are payable.


If, at retirement, you tranferred the value of your pension plan account to a registered vehicle and had not yet purchased an annuity, the registered account will transfer to your spouse or beneficiary.