Preretirement Death Benefit

Preretirement Death Benefit. An amount, payable to a Participant's --------------------------- surviving Spouse pursuant to Section 4 in the event of a Participant's death on or after attaining age 60 (age 55 in the case of an employee who became a Participant before January 1, 1993), equal to 50% of the Basic Benefit, as determined in Section 3, had the Participant retired (disregarding age requirements for Early Retirement) on the day before his death, that is the Actuarial Equivalent of the monthly benefit... he would have received at Normal Retirement. View More

Preretirement Death Benefit. Shall mean, with respect to an Executive, the death proceeds payable under the Policy by the Insurer to the Executive's Beneficiary, in the amounts set forth in the Endorsement unless otherwise provided in an Executive's Plan Agreement. Neither the Company nor the Executive shall be responsible in any way for the tax status of the Pre-Retirement Death Benefit.