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GWW » Topics » Payment of Benefits Upon Death - Other Beneficiary

These excerpts taken from the GWW 10-K filed Feb 27, 2008.
Payment of Benefits Upon Death - Other Beneficiary. If no primary or contingent Beneficiary survives a Participant or if no Beneficiary Designation is in effect upon his death, then the payments shall be made to the deceased Participant’s spouse. If his spouse does not survive him, then payments shall be made to the Participant’s descendants who survive him by right of representation; or if no descendants of the Participant survive him, then to his estate. In the event any person entitled to receive benefits in accordance with this Section dies prior to his receipt of all of the benefits to which he is entitled, the balance of such benefits, if any, shall be payable to the next class of recipients.

Payment of Benefits Upon Death - Other Beneficiary. If no primary or contingent Beneficiary survives a Participant or if no Beneficiary Designation is in effect upon his death, then the payments shall be made to the deceased Participant’s spouse. If his spouse does not survive him, then payments shall be made to the Participant’s descendants who survive him by right of representation; or if no descendants of the Participant survive him, then to his estate. In the event any person entitled to receive benefits in accordance with this Section dies prior to his receipt of all of the benefits to which he is entitled, the balance of such benefits, if any, shall be payable to the next class of recipients.



EXCERPTS ON THIS PAGE:

10-K (2 sections)
Feb 27, 2008

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