SECTION 5.0 - DEATH BENEFITS FOR ACTIVE PARTICIPATING EMPLOYEES AND RETIREES
In the event of your death from any cause, on the job or off, while you are eligible, the proceeds will be paid to the named beneficiary.
Active Participating Employee Death Benefit: Any Active Participating Employee who is Eligible to receive Benefits under this Plan at the time of his/her death shall receive a sum of $10,000.00
Retiree Death Benefit: Any eligible Employee age 55 and over who retires and who meets the requirements shown below, shall be eligible for the retiree death benefit of $5,000.00, providing;
- He/She is eligible for and receiving benefits under this plan immediately prior to retirement, and
- He/She has completed an application for Retiree Death Benefits, which is approved by the Board of Trustees.
Beneficiary: You may name anyone you wish as your beneficiary and you may change your beneficiary at any time by filling out the proper form.
Extended Death Benefit: If prior to age 60, you become totally and permanently disabled, your benefit will continue without cost for a period of twelve months. Prior proof of total and permanent disability must be presented within the twelve month period and yearly thereafter to continue the benefit in force.
Assignment Of Death Benefit: No assignment by an eligible participant of the Death benefits under this Plan shall be valid.