MERGED PLANS marriage was performed or the state where you live. Additionally, From time to time, other pension funds have been merged into the Na- the term “spouse” can refer to your ex-spouse if required under a tional Pension Fund or the prior plans. The participants in the merged Qualified Domestic Relations Order (see page 21 of this SPD). plan may be brought in at lower benefit levels. STANDARD FORM FOR MARRIED PARTICIPANTS: 50% If you were a participant in a plan that merged into the National JOINT AND SURVIVOR PENSION Pension Fund, special rules set out in the merger agreement that Under federal law, the standard form of payment for married par- describes how service earned under the merged plan will be treated ticipants is the 50% Joint and Survivor Pension. may apply to you (but note that the merger agreement has been If you are married on the effective date of your pension, your pen- modified by the RP as explained below). Most merger agreements sion will be paid automatically as a 50% Joint and Survivor Pension require that you earn at least 1,200 hours of service after the effec- unless you and your spouse select a different form of payment in tive date of the merger to receive National Pension Fund benefits. writing. To reject the standard form, you must use the appropriate On pages 31 and 32, you will find a list of the plans that have been form provided by the Trustees as a part of the pension application. merged into the National Pension Fund, or its prior plans, with the Your spouse’s signature must be witnessed by a notary public. effective dates of the merger agreements. By writing to the Fund Of- The 50% Joint and Survivor Pension provides you with a reduced fice, you can obtain a copy of the merger agreement. monthly benefit for your lifetime. When you die, your spouse con- The benefit modifications described in this SPD for benefits earned tinues to receive 50% of that reduced benefit for the rest of his or under the Plan will also apply to the same types of benefits earned her lifetime. If you and your spouse are divorced after the effective under the merged plans. As a result, no lump-sum benefits under date of your pension, your divorced spouse will still be entitled to merged plans will be payable on or after April 26, 2019, except for the 50% Joint and Survivor Pension after your death. small benefits that are automatically cashed out. In addition: In lieu of a 50% Joint and Survivor Pension, you may elect the 75% › For participants covered under the Preferred Schedule: or the 100% Joint and Survivor Pension option, in which case a › All early retirement pensions and disability pensions valid rejection of the standard form is not required. will be reduced using the same factors used to deter- Amount of Reduction mine early retirement pensions and disability pensions The amount of the reduction depends upon the difference be- earned under the National Pension Fund. tween your age and your spouse’s age at the time you retire, and › The normal form of payment for unmarried participants on whether you are covered by the Preferred Schedule or the De- will be a single life annuity providing equal monthly fault Schedule, or you are a Grandfathered Participant. See Table payments for life, with no benefit payable after the Seven on page 56 for a list of reduction percentages based on the participant’s death. age difference between the participant and spouse. › For participants covered under the Default Schedule: When you apply for your pension the Fund Office will let you know › All “pop-up” benefits (e.g., benefit increases to a partic- the amount of your pension payable as a 50% Joint and Survivor ipant who is receiving a joint and survivor annuity and Pension and in other optional forms. You and your spouse must whose spouse predeceases him or her) are eliminated. decide before the commencement of your pension if you want › All pre-retirement death benefits other than the 50% to accept the standard 50% Joint and Survivor Pension or choose qualified pre-retirement survivor annuity are eliminated. some other payment option. HOW WILL YOUR PENSION If Your Spouse Dies Before You (Preferred Schedule and Grandfathered Participants) BENEFIT BE PAID? If you are covered by the Preferred Schedule or are a Grandfathered Your pension benefit can be paid in one of several ways. Participant and your spouse dies before you but after the effective date of your pension, your pension amount will be adjusted if you DEFINITION OF SPOUSE are receiving a 50% Joint and Survivor Pension and you have at least 600 hours of service in 1993 or later. For the purposes of this SPD, the term “spouse” shall refer to the per- In this case, the monthly amount payable to you will be increased son to whom you are married under the law of the state where your as of the first of the month following the death of your spouse, to SUMMARY PLAN DESCRIPTION 2023 // 19