Discussing the financial security of your loved ones after you pass away can be difficult and complicated. The IAM National Pension Fund has both standard and optional benefit payment op - tions to choose from when you are ready to retire which provide continued financial support for your loved ones after you pass away. The benefit payment options available to you, your survivors, and beneficiaries vary based on factors such as your marital status, whether you were retired and receiving a benefit from the Pension Fund at the time of your death, as well as other factors. For example, married participants typically receive a 50% Joint and Survivor annuity which pays a re - duced monthly benefit to you so that when you pass away, your spouse continues to receive 50% of that reduced benefit. Or you can elect a higher benefit payment for your surviving spouse, such as a 75% or 100% Joint and Survivor Annuity which work the same as a 50% Joint and Survivor annui - ty, but your benefit payment is reduced by a great - er amount to provide a higher survivor benefit to your spouse. If you pass away after April 16, 2019, and prior to starting to receive your benefit, your qualified spouse will receive the 100% Joint and Survivor Annuity. For participants who are not married, depending on the option you elect and when you retire, there may be a benefit payable to your beneficiary after you pass away. Regardless of your marital status, you should immediately notify the Benefit Funds Office of any life events, such as a change of address, marriage, or divorce. You may not be allowed to change your bene - fit payment elections after retirement, so con- sidering the options available to you with your survivors, beneficiaries, and financial or legal advisor in advance can help you make informed decisions when you retire. Keeping your infor - mation up to date with the Benefit Funds Of - fice, and your financial documents organized, and readily available to those who will act on your behalf after your passing can ease your transition into retirement and beyond. BEYOND RETIREMENT: BENEFITS FOR YOUR SURVIVORS JOURNEY TO RETIREMENT OCTOBER 2022 10