§ 801. Automatic spouse's benefit.

A.

Death After At Least Five (5) Years of Continuous Employment But While Employed. Effective on and after September 1, 1992, for Participants whose Employment began prior to July 1, 2018, upon the death of a Participant prior to Termination of Employment but after completion of at least five (5) Years of Continuous Employment, the Participant's spouse shall receive a death benefit paid monthly for the rest of the life of the spouse, provided that such spouse has been legally married to such Participant for a period of at least one (1) year immediately preceding the Participant's death. If the Participant died after attaining age fifty-five (55), the spouse's death benefit shall be one-half (½) of the monthly benefit that would have been paid to the Participant in the form of a life annuity starting the first of the month in which the Participant died. If the Participant died before age fifty-five (55), the spouse's death benefit shall be one-half (½) of the monthly benefit that would have been paid to the Participant in the form of a life annuity starting the first of the month after the Participant would have reached age sixty-five (65), minus a twenty-five percent (25%) early retirement reduction factor. The spouse's death benefit amount shall be reduced by seventy-five hundredths of one percent (.75%) for each full year in excess of five (5) years by which the age of the spouse is less than the age of the deceased Participant. For Participants whose Employment began on or after July 1, 2018, upon the death of a Participant prior to Termination of Employment but after completion of at least five (5) Years of Continuous Employment, the Participant's spouse shall receive a death benefit paid monthly for the rest of the life of the spouse, provided that such spouse has been legally married to such Participant for a period of at least one (1) year immediately preceding the Participant's death. If the Participant died after attaining age sixty (60), the spouse's death benefit shall be one-half (½) of the monthly benefit that would have been paid to the Participant in the form of a life annuity starting the first of the month in which the Participant died. If the Participant died before age sixty (60), the spouse's death benefit shall be one-half (½) of the monthly benefit that would have been paid to the Participant in the form of a life annuity starting the first of the month after the Participant would have reached age sixty-five (65), minus a twenty-five percent (25%) early retirement reduction factor. The spouse's death benefit amount shall be reduced by seventy-five hundredths of one percent (.75%) for each full year in excess of five (5) years by which the age of the spouse is less than the age of the deceased Participant.

B.

No Cost to Participant. In no event shall the retirement income payable to a Participant or contingent annuitant be reduced due to this death benefit.

C.

Vesting. The automatic spouse's benefit is subject to the same rules of vesting as are recited in Chapter 4 hereof.

(Ord. No. 18103; Ord. No. 23848 , § 3, 1-24-2018)