Husband-and-Wife Options

You can choose from the 50% Husband-and-Wife Option, 75% Husband-and-Wife Option, or 100% Husband-and-Wife Option. The Husband-and-Wife Options provide a reduced monthly benefit for you so
that, upon your death, your spouse will receive a percentage of the benefit you were receiving. As long as you and your spouse are legally married on the starting date of your pension and for at least one year before your death, these elections entitle your spouse to receive a reduced monthly benefit for life.

After payments have begun, if you elect a Husband-and-Wife Option and your spouse dies before you or you get a divorce, the amount of your monthly benefit is not increased. No other spouse may become
eligible for the Husband-and-Wife Option. Likewise, if you get a divorce after your pension benefits begin, the amount of your monthly benefit is not increased, and your ex-spouse will receive the elected survivor pension upon your death. Further, the Plan, in accordance with the law, must recognize a Qualified Domestic Relations Order.

If you are married when you retire, your pension benefit is automatically payable in the form of a 50% Husband-and-Wife Option unless you reject this form of payment, your spouse consents to the rejection, and the rejection (with spousal consent) is witnessed by a notary public and filed with the pension application at the Fund Office.

50% Husband-and-Wife Option

This benefit provides a reduced monthly benefit for you so that, upon your death, your spouse will receive 50% of the benefit you were receiving.

Your monthly pension benefit will be actuarially reduced taking into consideration the difference between your age and your spouse’s age. The factor applied is calculated by starting with 90% (82% for a
Disability Pension), and either adding 0.4% for each full year that your spouse is older than you or subtracting .4% for each full year that your spouse is younger than you on the starting date of the pension.

For example, you retire at age 62, are eligible for a Regular Pension of $1,500.00 per month and your spouse is age 60. The factor would be 89.2% (90% - .8%) based on a spouse who is two years younger.
Therefore, the payment under the monthly 50% Husband-and-Wife Option would be $1,338.00 ($1,500.00 x 89.2% = $1,338.00). This amount is payable to you for your lifetime. If your spouse is living at the time of your death, he or she will receive a monthly benefit of half this amount, or $669.00, for the remainder of his or her lifetime

The actuarial factors are shown on the following table for participants with a spouse from one to 10 years younger or older.

Spouse's Age Compared with Participant's Age	Actuarial Factor for 50% Husband-and-Wife Option
	Non-Disability	Disability
10 years younger 9 8 7 6 5 4 3 2 1 year youger	86.0% 86.4% 86.8% 87.2% 87.6% 88.0% 88.4% 88.8% 89.2% 89.6%	78.0% 78.4% 78.8% 79.2% 79.6% 80.0% 80.4% 80.8% 81.2% 81.6%
Same age 1 year older 2 3 4 5 6 7 8 9 10 years older	90.0% 90.4% 90.8% 91.2% 91.6% 92.0% 92.4% 92.8% 93.2% 93.6% 94.0%	82.0% 82.4% 82.8% 83.2% 83.6% 84.0% 84.4% 84.8% 85.2% 85.6% 86.0%

75% Husband-and-Wife Option

Payment of the 75% Husband-and-Wife and 100% Husband-and-Wife Options are subject to the following conditions: -- You can only elect these options before the Trustees approve your pension application; -- Your election cannot be revoked once it is approved by the Board of Trustees and payments begin; and -- You may not elect these Options in conjunction with the 60-Month Guarantee or any other optional form of payment available under the Plan

If you retire on or after April 1, 1996 and are married, you can elect a 75% Husband-and-Wife Option. This form provides a reduced monthly benefit for you so that, upon your death, your spouse will receive 75% of the benefit that you were receiving for the rest of his or her life.

Your monthly benefit will be actuarially reduced taking into consideration the difference in your age and your spouse’s age. For most retiring participants, the reduction factor is calculated by starting with 85.5% and adding 0.6% for each year that your spouse is older than you or subtracting 0.6% for each year that your spouse is younger than you. (For participants retiring on a Disability Pension, the reduction factor is calculated by starting with 74.5% and adding 0.5% for each year that your spouse is older than you or subtracting 0.5% for each year that your
spouse is younger than you.)

For example, you retire at age 62, are eligible for a Regular Pension of $1,500.00, and you and your spouse elect the 75% Husband-and-Wife Option. Your spouse’s age is 59. The reduction factor would be
83.7% based on a spouse who is three years younger. Therefore the payment under the 75% Husband-and-Wife Option would be $1,255.50 ($1,500.00 x 0.837 = $1,255.50). This amount is payable to you for your lifetime. If your spouse is living at the time of your death, he or she will receive a monthly benefit of $942.00 ($1,255.50 x 0.75 = $941.63, rounded to $942.00) for the remainder of his or her lifetime.

The actuarial factors are shown on the following table for participants with a spouse from one to 10 years younger or older

Spouse's Age Compared with Participant's Age	Actuarial Factor for 75% Husband-and-Wife Option
	Non-Disability	Disability
10 years younger 9 8 7 6 5 4 3 2 1 year youger	91.5% 90.9% 90.3% 89.7% 89.1% 88.5% 87.9% 87.3% 86.7% 86.1%	79.5% 79.0% 78.5% 78.0% 77.5% 77.0% 76.5% 76.0% 75.5% 75.0%
Same age 1 year older 2 3 4 5 6 7 8 9 10 years older	85.5% 84.9% 84.3% 83.7% 83.1% 82.5% 81.9% 81.3% 80.7% 80.1% 79.5%	74.5% 74.0% 73.5% 73.0% 72.5% 72.0% 71.5% 71.0% 70.5% 70.0% 69.5%

100% Husband-and-Wife Option

If you retire on or after April 1, 1996 and are married, you can elect a 100% Husband-and-Wife Option. This form provides a reduced monthly benefit for you so that, upon your death, your spouse will receive 100% of the benefit that you were receiving for the rest of his or her life. Your monthly benefit will be actuarially reduced taking into consideration the difference in your age and your spouse’s age. For most retiring participants, the reduction factor is calculated by starting with 81% and adding 0.7% for each year that your spouse is older than you or subtracting 0.7% for each year that your spouse is younger than you. (For participants retiring on a Disability Pension, the reduction factor is calculated by starting with 67.0%
and adding 0.5% for each year that your spouse is older than you or subtracting 0.5% for each year that your spouse is younger than you.)

For example, you retire at age 62, are eligible for a Regular Pension of $1,500.00, and you and your spouse elect the 100% Husband-and-Wife Option. Your spouse’s age is 57. The reduction factor would be 77.5% based on a spouse who is five years younger. Therefore the 100% Husband-and-Wife Option would be $1,162.50 ($1,500.00 x 0.775 = $1,162.50). This amount is payable to you for your lifetime. If your spouse is living at the time of your death, he or she will receive a monthly benefit of $1,162.50 for the remainder of her lifetime.

The actuarial reduction factors are shown on the following table for participants with a spouse from one to ten years younger or older.

Spouse's Age Compared with Participant's Age	Actuarial Factor for 100% Husband-and-Wife Option
	Non-Disability	Disability
10 years younger 9 8 7 6 5 4 3 2 1 year youger	88.0% 87.3% 86.6% 85.9% 85.2% 84.5% 83.8% 83.1% 82.4% 81.7%	72.0% 71.5% 71.0% 70.5% 70.0% 69.5% 69.0% 68.5% 68.0% 67.5%
Same age 1 year older 2 3 4 5 6 7 8 9 10 years older	81.0% 80.3% 79.6% 78.9% 78.2% 77.5% 76.8% 76.1% 75.4% 74.7% 74.0%	67.0% 66.5% 66.0% 65.5% 65.0% 64.5% 64.0% 63.5% 63.0% 62.5% 62.0%