DIAMOND STATE PORT CORPORATION BENEFITS - SURVIVOR BENEFITS
PRERETIREMENT; MARRIED PARTICIPANT:
If you die while still employed but at a time when you are eligible for early or normal retirement and if you are survived by a spouse, your surviving spouse shall receive the surviving spouse's benefit described in section (c) of Article IV* which the spouse would have been entitled to receive if you had retired the day before you died. If you die while still employed but at a time when you have completed at least 15 Years of Credited Service and if you are survived by a spouse, your surviving spouse shall receive a monthly pension at the annual rate of 50 percent times 1 3/4 percent of your Final Average Base Salary multiplied by your Years of Credited Service to date of death, a maximum of 30 years. A surviving spouse who is eligible for the benefit described in both the preceding two sentences shall receive only the larger benefit. The surviving spouse's monthly pension payments shall commence on the first of the month coincident with or immediately following your death and shall terminate with the last payment made in the month in which the spouse dies. If the aggregate payments to you and surviving spouse are less than the accumulated Employee contributions with Credited Interest at retirement, the balance of that contribution amount will be paid to the designated beneficiary. If there is no designated beneficiary, it shall be paid to the spouse's estate.
*If you are survived by your spouse, the spouse will receive a surviving spouse's pension equal to 50 percent of your monthly pensions which will be paid to the spouse on the first day of each month beginning with the month following your death and continuing until and including the month in which the spouse dies. This surviving spouse's pension will be paid only to a spouse to whom you were married on your Retirement Data.
(PRERETIREMENT AND LESS THAN 15 YEARS OF SERVICE; MARRIED OR UNMARRIED PARTICIPANT.)
If you die while still employed but at a time prior to completion of 15 Years of Credited Service, if you are survived by a spouse, your surviving spouse, or if you are unmarried, your designated beneficiary, or the beneficiary's estate, shall be eligible to receive a refund of contributions determined in accordance with the provisions of section (d) of Article III