Automatic Lump Sum Benefit (instead of Monthly Pension Payments)
In general, the pensions payable by the Plan are paid in monthly payments. You cannot choose to receive your monthly pension in a lump sum. However, if at the time your pension begins, the actuarial present value of your monthly benefit is $5,000 or less, the Trustees will automatically pay you that present value in one lump sum payment. After that amount is paid to you, no further payments are payable to you from the Plan.