F » Topics » Section 5.03 Pension Parity Surviving Spouse Benefits.

This excerpt taken from the F 10-K filed Mar 10, 2005.
Section 5.03 Pension Parity Surviving Spouse Benefits. An Eligible Surviving Spouse shall be entitled to receive a monthly Pension Parity Surviving Spouse Benefit upon the death of the Eligible Retired Executive in an amount equal to the difference between (i) and (ii), where (i) is the actuarial equivalent (as determined by an independent actuary appointed by Ford Motor Company) of the amount of the monthly survivor’s benefit that would be payable under the GRP, the ESAP, the BEP, and the SRP if all of the Eligible Retired Executive’s years of service under the GRP/ ESAP/ BEP/ SRP and each of the subsidiary’s retirement plans were counted as years of contributory service under the GRP/ ESAP/ BEP/ SRP and (ii) is the actuarial equivalent (under the method described in (i) above) of the amount of the monthly survivor’s benefit that is or was payable under the GRP/ ESAP/ BEP/ SRP, under Section 4.04 of this Plan if the Designated Beneficiary was an Eligible Surviving Spouse, under the subsidiary’s retirement plans, or under any other plan sponsored by a subsidiary which provided pension-type survivor benefits.

     

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