Chapter: Other Benefits
Section: Terminal Illness Benefit
Terminal Illness Benefit
If a Participant qualifies for a Terminal Illness
Benefit, the Participant and his spouse or Qualified Domestic Partner, if applicable,
may elect to receive a lump sum payment equal to 75% of the amount of the Normal
Death Benefit which would have been payable if he died on or after
the effective date of the Terminal Illness Benefit. The remainder of the Participant’s
accrued benefit will be payable on his Normal Retirement Date if he is then
alive; however, the Participant will not be allowed to elect an optional form
of benefit. If the Participant dies prior to his Normal Retirement Date, his
spouse, Qualified Domestic Partner or beneficiary will be entitled to the remainder
of the Normal Death Benefit under Article V of the Plan (see Normal Death Benefit).
The amount
of the Normal Death Benefit will be reduced by the actual amount of the Terminal
Illness Benefit the Participant received. If the Participant is alive on his
Normal Retirement Date, the amount of the Normal Retirement Benefit will be
reduced by the actuarial equivalent of the Terminal Illness Benefit the Participant
received.
A Participant who meets all of the following conditions will
be eligible for a Terminal Illness Benefit:
-
The Participant files an application, which includes a
certification from a physician who is legally authorized to practice medicine
that the Participant is terminally ill and has a life expectancy of less
than one year. The Participant may also be required to submit to an examination
by a physician selected by the Directors;
-
The Participant demonstrates that he or she has not worked
in employment covered by the Plan during a 30-consecutive-day period which
includes the date the application was filed;
-
If the Participant is married, his or her spouse consents
to waive the Surviving Spouse Benefit described under Surviving Spouse Benefit.
If the Participant
has a Qualified Domestic Partner, his/her Qualified Domestic Partner consents
to waive the Surviving Spouse Benefit. (The Participant must also waive
the 50% Joint and Survivor Annuity, as described in "Retirement Benefit Payment Options"
to receive a
lump sum); and
-
The Participant is not eligible to retire under any other
provision of the Plan.
If you have any questions or would like an estimate
of the Terminal Illness Benefit, please call the Administrative Office.
Eligibility for Screen Credit Benefit
Amount of Screen Credit Benefit
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