BENEFITS FOR SURVIVORS PRERETIREMENT DEATH BENEFIT FOR IF YOU DIE BEFORE UNMARRIED PARTICIPANTS COVERED BY THE PREFERRED SCHEDULE OR GRANDFATHERED RETIREMENT PARTICIPANTS: 60 PAYMENTS To help you protect your spouse or other survivors, certain forms of If you are a vested participant who is covered by the Preferred Sched- payment available under the National Pension Fund provide bene- ule or a Grandfathered Participant and you die before retirement, fits for survivors when you die after retirement. The Fund also offers your beneficiary or beneficiaries will be eligible for a monthly pre- protection for your survivors if you die before retirement. retirement death benefit if you are unmarried or were not married throughout the 12-month period ending on your date of death (if SPOUSE PRERETIREMENT DEATH BENEFIT you were married throughout the 12-month period ending on the If you are married and die before you retire, your spouse will be date of your death, the spouse preretirement benefit is payable in- eligible for a spouse preretirement death benefit if the following stead). conditions are met: This benefit, which is payable for 60 months, is equal to the normal › You have met the service requirements for a normal, early pension amount you would have received had you retired the day retirement, 30 and Out, 20 and Age 62, or vested deferred before your death. It is payable beginning the first day of the month pension before you die. following the receipt of your beneficiary’s application. › You and your spouse have been married to each other DESIGNATING YOUR BENEFICIARY throughout the 12-month period ending with your death. If you are unmarried, it is important that you designate a beneficiary If you are married and die before you retire, payments to your — the person or persons who will receive this 60-payment death ben- spouse can be effective the first of the month following receipt of efit when you die. your spouse’s application for benefits. A beneficiary designation form can be found at the Your spouse may defer receiving this benefit until a future date, rear of this booklet or can be downloaded from the but no later than the end of the calendar year in which you would Fund website at www.iamnpf.org. You may also have been 72 years old (or 70½ years old if you reached age 70½ designate or update your beneficiary designation before January 1, 2020). online at www.iamnpf.org. Your completed, form The amount of this benefit will be a monthly lifetime payment to must be on file at the Fund Office to be valid. There is no limit on the your spouse calculated as if you had retired on a 100% Joint and number of beneficiaries you may designate. Survivor Pension (50% Joint and Survivor Pension if the partici- If you do not name a beneficiary, or if your last surviving beneficia- pant died before April 17, 2019). The benefit is based on your age ry has died before all 60 monthly payments are made, your death on the effective date of your spouse’s benefit. If the benefit is to benefits will be paid to the persons listed below in the order and be paid before you would have reached age 55 and you had not manner listed: become eligible for the 30 and Out pension benefit, the benefit › To your surviving spouse (that is, to whom you were mar- amount will be determined as if you had reached age 55. ried for less than 12 months) You do not need to elect this benefit during your lifetime. Your › If no surviving spouse, to your surviving children, divided spouse must, however, apply for this benefit after your death by equally filing an application with the Fund Office. Benefits to your spouse › If no surviving spouse or children, to your surviving par- cannot be paid for any period before the first of the month after a ents, divided equally completed application is received by the Fund Office. › If no surviving spouse, children, or parents, to your surviv- ing siblings, divided equally If the actuarial present value of the spouse preretirement death For the purposes of this section, “children” or “surviving children” benefit is $5,000 or less, the Trustees will automatically pay your means your surviving biological or legally adopted children. spouse a single cash payment. To be eligible for the spouse preretirement death benefit you must have at least one hour of service under the National Pension Fund or a prior plan on or after September 2, 1974. \\ Benefits for Survivors 22