nineteen hundred and forty-six - Amazon Web Services

470 SOUTHERN BAPTIST CONVENTION
Year of Eligibility for
Widows Annuity
1st
2nd
3rd
4th
5th
6th and later
Widows Annuity:
Percentage of Potential
Age Retirement Annuity
20
.24
.28
32
36
.40
(8) Widow More than 10 Years Younger—In the event that the widow at
the date of the death of the member is younger than her husband by more than
ten years, the widows annuity otherwise payable shall be reduced and paid in
accordance with the following percentages:
Widow
Years
founger
11
12
13
14
15
16
17
18
Percentage
of widows
Annuity
96
92
89
86
83
80
77
74
Widow
Years
Younger
19
20
21
oo
23
24
25 or more
Percentage
of Widows
Annuity
72
70
68
66
64
62
60
(9) Delayed Participation—In the event that any person eligible for membership
at the inauguration of the Plan delays participation beyond one year
after the date of inauguration of the Plan or any person who later becomes
eligible and delays participation beyond the first fiscal year of eligibility, the
widows annuity otherwise payable shall be reduced at the rate of one-twentyfifth
(1/25) of such annuity for each year of delayed participation.
(10) Contributions Not Paid in Full—In the event that the member contributions
and convention contributions for a fiscal year are not paid in full, the
widow shall be eligible for an annuity only if the death of the member should
occur during that fractional period of the year for which contributions have
been paid.
(11) Grace Period—Member contributions and convention contributions are
due and payable monthly the first day of each month. In the event of nonpayment
of contributions a grace period of ninety (90) days shall be allowed.
In the event of the death of the member during such grace period all unpaid
contributions shall be deducted from any benefits payable. If such unpaid
contributions shall not have been paid during such grace period, then at the
expiration of the grace period membership in the Plan shall be terminated. If
and when membership is resumed by the payment of the required member contributions
and convention contributions, thereafter the graduated scale of benefits
outlined in paragraph (7) shall apply, counting from the date of the resumption
of membership; further, for each year of omitted membership the
widows annuity shall be reduced at the rate of one-twenty-fiith (1 25) as provided
in paragraph (9).
(12) Transfer of Membership—Upon transfer from the convention to
another convention which is also under the Plan or to an organization which is
participating in the Widows Supplemental Annuity Plan for Boards. Institutions
and Agencies, the wife of the member shall be entitled to receive protection from
the convention from which the member transfers for the period covered by
member contributions and convention contributions already due and paid.
Upon transfer from the convention to another convention which is not under
the Plan or to an organization which is not participating in the Widows Supplemental
Annuity Plan for Boards, Institutions and Agencies, protection %hall
cease as of the date of transfer, any unearned member contributions shall be
refunded to the member and any unearned convention contributions paid on account
of the member shall be refunded to the convention in accordance with
paragraph (13).
Upon transfer of membership to the Plan from a convention which is also
under the Plan from an organization which is participating in the Widows