the full monthly amount that would have been payable if the 50% If you are married, and your spouse agrees, you can choose to re- Joint and Survivor Pension had not been in effect. ceive your benefit in the following optional forms: STANDARD FORM OF PAYMENT FOR SINGLE PARTICI- › 75% Joint and Survivor Pension PANTS: SINGLE LIFE ANNUITY › 100% Joint and Survivor Pension › 120 Certain Payments The standard form of payment for single participants is a single life › Single Life Annuity or 60 Certain Payments (Grandfathered annuity (with guaranteed payments to Grandfathered Participants and Participants only: see Table Twelve) participants covered under the Default Schedule). This form provides If you are single, you can choose to receive your benefit in the follow- you with equal monthly pension benefits for your lifetime. There is no ing optional form: reduction to your benefit to provide this form of pension payment. › 120 Certain Payments Your pension payments will stop once you die, and no benefit will go to any surviving beneficiary unless you are a Grandfathered Partici- All standard and optional forms of payment are for the participants’ pant or covered by the Default Schedule, you elected the 60 Certain lifetimes. In the case of the 50%, 75% and 100% Joint and Survivor Payments and you die before you receive 60 monthly payments, in options, these benefits are payable to your spouse for his or her life- which case the balance of the 60 monthly payments (if you are a time in the event of your death. Grandfathered Participant) or the balance of the 60 monthly pay- 75% JOINT AND SURVIVOR PENSION ments attributable to the portion of your benefit that you earned before your RP Schedule Effective Date (if you are covered by the The 75% Joint and Survivor Pension provides you with a reduced Default Schedule) will be paid to your designated beneficiary. pension during your lifetime. When you die, your surviving spouse If you are a Grandfathered Participant or are covered by the Default continues to receive 75% of the benefit you were receiving for the Schedule, you may designate your beneficiary or beneficiaries on rest of his or her lifetime, even if you are divorced after the effective your pension application at the time you apply for pension benefits date of your pension. and the following additional rules will apply: Amount of Reduction › If your designated primary beneficiary or beneficiaries are Like the 50% Joint and Survivor Pension, the reduction of your ben- not living at the time payments are to be made, payments efit under the 75% Joint and Survivor Pension depends upon the will continue to your designated successor beneficiary or difference between your age and your spouse’s age and whether you beneficiaries. are covered under the Preferred Schedule or the Default Schedule. › If you are unmarried and you have not named a beneficia- See Table Eight on pages 57 and 58 for a list of reduction percentag- ry, or if your last surviving beneficiary has either already es based on the age difference between the participant and spouse. died or dies before all of the remaining payments have If Your Spouse Dies Before You (Preferred Schedule and been made, the remaining payments will be made to the Grandfathered Participants) persons listed below, in the order and manner listed: If you are covered by the Preferred Schedule or are a Grandfathered › To your surviving children, divided equally Participant and your spouse dies before you, and you have at least › If no surviving children, to your surviving parents, 600 hours of service in 1993 or later, the monthly amount payable divided equally to you will be increased as of the first of the month following the › If no surviving children or parents, to your surviving death of your spouse to the full monthly amount that would have siblings, divided equally been payable if the 75% Joint and Survivor Pension had not been If none of these persons are living, the remaining monthly payments in effect. will be made to the estate of the last surviving beneficiary, or if none, 100% JOINT AND SURVIVOR PENSION to your estate. The 100% Joint and Survivor Pension provides you with a reduced OPTIONAL FORMS pension during your lifetime. When you die, your surviving spouse OF PAYMENT continues to receive 100% of the benefit you were receiving for the rest of his or her lifetime, even if you are divorced after the effective Whether you are single or married, you may choose not to receive date of your pension. your benefit in the standard form that applies to you. \\ Optional Forms of Payment 20