Retirement - Mid-America Carpenters Regional Council Benefit Funds
Beneficiary Benefit Options
Are There Any Survivor Benefits if I Die Before Receiving a Pension?
Yes. There are two types of survivor benefits payable to your beneficiary before your retirement, if you are
vested and have no spouse. Your designated
is entitled to only one.
1. 60 Certain Guaranty Benefit
The 60 Certain Guaranty is payable if, at the time of your death, you are vested, at least age 60, and:
- Not married; or
- Married for less than one year
If you are age 60 and you die before you actually retire, your beneficiary will receive a monthly
benefit payable for a total of
60 payments guaranteed.
This benefit is equal to the amount of the pension for which you were qualified.
2. Death Benefit Pension Benefit
If you die before you reach age 60, a death benefit pension will be payable to your beneficiary if you
- 10 or more Years of Pension Credit; OR
- You earned at least ¼ Year of Pension Credit in the calendar year in which you die or the two immediately preceding