DEATH BENEFITS
WHAT HAPPENS IF I DIE BEFORE I RETIRE?
If you should die prior to age 55, a death benefit will be paid to your Spouse. This will be a monthly pension equal to that which can be provided by the Commuted Value of your accrued retirement benefit earned to your date of death. Your Spouse may also transfer the commuted value of this benefit to certain prescribed vehicles.
If you should die after age 55, your Spouse will receive the monthly pension to which they would have become entitled had you retired on your date of death and elected a pension payable as a Joint and Survivor annuity with 60% continuance.
If there is no Spouse at the time of death, the commuted value of the death benefit will be paid to your beneficiary or estate.
There is a minimum death benefit payable from the Plan which is dependent upon your Continuous Service with the Company and is equal to a percentage refund of your required contributions accumulated with interest, determined as follows:
WHAT HAPPENS IF I DIE AFTER COMMENCEMENT OF
MY RETIREMENT BENEFIT?
The benefits payable will be determined by the form of pension benefit you had chosen at retirement.
Prairie Teamsters Administration Services Ltd.
209, 7260 - 12 St SE Calgary, Alberta T2H 2S5
Telephone 403-252-6924 - Toll Free1-877-817-7526 - Fax 403-253-3231