Benefits for Your Survivor

The Affiliates’ Pension Plan provides benefits for your survivor in the event of your death. The amount of the benefit depends on whether or not your death occurs before you retire.  

If You Die Before You Retire: Lifetime Survivor’s Pension

If you are vested, but have not begun receiving your pension, your qualifying spouse or beneficiary is eligible to receive a survivor’s pension, calculated as follows:

  • If you are married for at least one year prior to your death and are eligible for retirement, your spouse will receive your pension benefit paid as if you had chosen the 100% Joint and Survivor Option for the remainder of his or her lifetime.
  • If you are married for at least one year prior to your death and you are not eligible for retirement, your spouse will receive your pension benefit paid as if you had chosen the 100% Joint and Survivor Option for the first 24 months following your death OR for as long as your dependent children are under age 18, whichever is longer. Then, his or her lifetime benefits will be reinstated in the month you would have been eligible for retirement.
  • If you are not married, or have been married for less than one year prior to your death, your beneficiary will receive a lump sum benefit equal to 60 times your monthly pension benefit.  

 

If You Die After You Retire

If the form of paymentyou elected provides for a spousal or beneficiary benefit, your spouse or named beneficiary will receive the benefit amount on a monthly basis for the rest of his or her life. Because the Affiliates’ Pension Plan has a 36-month guarantee, if you die before you receive this total amount, your pension benefits will continue to be paid to your designated beneficiary even if you have selected the Single Life Annuity.

 

Designating a Beneficiary

It’s important to designate a beneficiary as soon as you become a participant in the Plan. Your named beneficiary is the person who will receive your pension or survivor benefits (if eligible) in the event of your death. You can change your designation at any time; remember to make changes if you experience a life event , such as getting married or divorced. To name or change a beneficiary, complete and submit this designation form.

 

If You Are Not Married

If you are not married, you may designate any person or legal entity (for example, a trust) as your beneficiary to receive any eligible death bene­fits.

 

If You Are Married

If you are married, you must designate your spouse as your beneficiary. However, if you would like to designate a beneficiary other than your spouse, your spouse will need to sign and notarize the Spousal Waiver Form which is included with your Approval Letter, which forfeits his or her right to a pension benefit.

 

If you do not name a beneficiary, or if your beneficiary dies first, any remaining benefits will be paid to:

 

  • Votre partenaire survivant, ou, s’il n’y en a pas :
  • Your surviving children; or, if none
  • Your beneficiary properly designated under the participating employer’s other benefit plans; or if none
  • Your estate.