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POST-RETIREMENT DEATH
If you die after you start receiving a pension and have no eligible spouse or children to receive survivor benefits, we will calculate the ‘residual balance’. A ‘residual balance’ is the difference between the pension contributions made by you while you were a contributor, plus interest, minus all the pension payments you and your survivors have received. If your payment recipient is a minor child, follow the same instructions outlined in the last paragraph of designated beneficiary regarding trust agreements or appointing a Guardian of Property. If you have not named a payment recipient, we will make this payment to your estate.
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