Straight Life Option

Straight Life Option: No Reduction in Accrued Monthly Pension (except for any Early Retirement reduction) No Protection for Spouse.

Additional Information:

  • Unmarried retiree will always receive a Straight Life Option;
  • If married and retiree elects a Straight Life Option (no spouse protection), spouse must agree, in writing, to this election.
Joint and Survivor Options

Joint and Survivor Option: Lifetime Spouse Protection REDUCTION in participant’s Accrued Monthly Pension (in addition to any Early Retirement reduction) will provide spouse a lifetime monthly check.

Additional Information:

  • Retiree may elect a 50%, 75% or 100% Joint and Survivor Option (Reduction in the Accrued Monthly Pension depends upon the option selected and the difference in ages).
  • After the retiree’s death, his/her spouse will receive a lifetime monthly pension benefit equal to 50%, 75% or 100% of the monthly pension amount received by the retiree.
Pop-Up Pension Benefit
  • The Plan provides an automatic “pop-up” provision for a retiree who is receiving a Normal, Early or Disability Pension and who elected a reduced pension payable in the form of a Joint and Survivor Option.
  • If the spouse predeceases the retiree, the monthly pension amount will “pop-up” to the amount prior to the reduction for surviving spouse benefits. You must notify the Fund Office of your spouse’s death and provide the death certificate to receive the pop-up.