Legal Question in Wills and Trusts in California
Benefit payment options
I have a rtiremen payment option of $397.50 per month or $418.00 per month. The $397.50 option has a lump sume death benefit payment of $4,770.00.
The death benefit payment states ''if you die before receiving 4 years of benefit payments, this death benefit may be payable to your beneficiary. The actual death benefit will be based on the amount shown and reduced by the benefit payments you are entitled to receive before your death''.
My question is will this death benefit of $4,770.00 be paid if take the paymnt option of $397.50 a month and live longer than 4 years? If so will all of the $4,770.00 be paid to my beneficiary?
Thank yor
1 Answer from Attorneys
Re: Benefit payment options
In order to correctly and completely answer this question, the full retirement plan document must be reviewed. My interpretation of the limited language you have provided is that the death benefit is not paid if you live 4 years or more and have received payments under the plan.
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