Pension Summary Plan Description

11 CHANGING YOUR FORM OF PAYMENT AFTER 90 DAYS

When you apply for benefits, you must choose a form of payment. For example, you may choose a Straight Life Annuity or a Joint Annuity. If you choose a form of payment which provides payments to a Beneficiary after your death, you will also name a Beneficiary.

In most situations, you cannot change your form of payment more than 90 days after your Retirement Date. There are, however, some limited exceptions. Any change you make will result in an adjustment in the amount of your benefit and your Beneficiary's benefit.