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6.1 Monthly Payments for Participant's Life
The retirement income of each Participant shall consist of monthly payments,
with the first such payment due the first month after the Participant retires
and makes application for such payments and such application is approved by
the Trustees, and if a Joint and Survivor Annuity is not applicable, for six
(6) months after his or her death. The last six (6) monthly payments shall be
paid to any Beneficiary designated by the Employee in writing and deposited
with the Administrator, or if none designated, to his or her estate. This payment
option includes a thirty-six (36) monthly payment guarantee. If the Participant
dies before receiving thirty-six (36) monthly payments the remainder will be
paid to the Participant’s designated Beneficiary. The thirty-six (36)
month guarantee is in addition to the six (6) month continuation described in
this Section.
