[Ord. No. 92-80 §§1 — 3, 12-16-1992; Ord. No. 97-43 §1, 7-16-1997]
A. 
Upon the death of a married Active Participant who is vested, the spouse of such Participant will be eligible for annuity payments under Subsection (B) for life if the Participant has been married to his spouse for at least twelve (12) months immediately preceding the Participant's death.
B. 
The yearly amount of annuity payable to the spouse will equal the greater of (1) or (2) as follows:
1. 
One hundred twenty dollars ($120.00);
2. 
The amount that would have been payable to the spouse if the Participant had:
a. 
Separated from service on his date of death,
b. 
Survived to the date he would have first been eligible to retire under the Plan,
c. 
Retired with the one hundred percent (100%) joint and Survivor Annuity form described in Section 140.120(2), and
d. 
Died the next day.
C. 
Notwithstanding the above, the spouse may elect to have benefits commence on the first (1st) day of any month coinciding with or following the date on which the Participant would have first been eligible to retire, but preceding or coinciding with the Participant's Normal Retirement Date.
[Ord. No. 92-80 §§1 — 3, 12-16-1992]
A. 
If a Vested Terminated married Participant dies before his monthly pension benefits commence, monthly annuity payments will be made thereafter to the spouse for life.
B. 
The yearly amount of annuity payable to the spouse will equal the amount that would have been payable to the spouse if the Participant had:
1. 
Survived to the date he would have first been eligible to retire under the Plan;
2. 
Retired with the fifty percent (50%) Joint and Survivor Annuity form described in Section 140.120(2); and
3. 
Died the next day.
C. 
Notwithstanding the above, the spouse may elect to have benefits commence on the first (1st) day of any month coinciding with or following the date on which the Participant would have first been eligible to retire, but preceding or coinciding with the Participant's Normal Retirement Date.
[Ord. No. 92-80 §§1 — 3, 12-16-1992; Ord. No. 01-57 §6, 10-17-2001; Ord. No. 05-54 §1(2), 12-5-2005]
Notwithstanding any other provision of the Plan, in event the Actuarial Equivalent of the death benefit does not exceed one thousand dollars ($1,000.00), payment of such benefit shall be in the form of a single sum. Any such one (1) sum payment shall be in lieu of the benefits otherwise payable hereunder.