Election Not to Take Surviving Spouse Annuity Form

7.07 - When the Surviving Spouse Annuity is specified as the automatic form of payment under Section 7.04(b), the Participant, with the consent of the Spouse, may elect not to receive benefits in the Surviving Spouse Annuity form but to receive instead a monthly pension in the form of Life, Guaranteed Ten (10) Years or another optional form under Section 7.08. The election must be made within the 90-day period ending on the date benefit payments would begin.

The Administrator shall provide each Participant, within a reasonable period prior to the commencement of benefits, a written explanation of:

• the terms and conditions of a Surviving Spouse Annuity;
• the Participant's right to make, and the effect of, an election to waive the Surviving Spouse Annuity form;
• the rights of a Participant's Spouse; and
• the right to make, and the effect of, a revocation of a previous election to waive the Surviving Spouse Annuity form.

An election not to take a Surviving Spouse Annuity form of payment must be delivered to the Administrator in writing in the form prescribed under the Pension Benefits Act and must have the consent of the Participant's Spouse in the presence of a witness. A revocation of a prior election may be made by a Participant with the consent of the Spouse at any time before the commencement of benefits. The number of revocations shall not be limited. Any new election or change of Beneficiary will require a new spousal consent.