nineteen hundred and forty-six - Amazon Web Services

RELIEF AND ANNUITY BOARD 471
Supplemental Annuity Plan for Boards, Institutions and Agencies, the wife of
the member shall be entitled to receive protection from this convention for the
period covered by member contributions beginning with those due and payable
as of the date of transfer. The amount of the protection shall be on the same
basis as the protection to which the wife of the member was entitled before
transfer.
(13) Termination of Membership—In the event of the death of the member
before entering upon an age retirement annuity, there shall be refunded any
member contributions paid on account of the current fiscal year. Such payment
shall be made to a beneficiary designated by the member, if living; otherwise to
the estate of the member. In the event of the termination of membership in
the retirement plan through which the member became eligible for membership
in this Plan or in the event of entering upon an age retirement annuity, membership
in this Plan shall be terminated automatically as of the date of termination
of such retirement plan membership or the date of retirement, respectively,
with a refund to the member of any unearned member contributions, and any unearned
convention contributions paid on account of the member shall be refunded
to the convention. In view of the fact that this protection is furnished
on a year to year term cost basis, there are no other withdrawal equities payable
at any time in the event of the discontinuance of participation by the member.
(14) Other Annuity Benefits Part of This Benefit—It is understood and
agreed that the annuity provided for the widow under any of the existing retirement
plans (the old Annuity Plan is not a retirement plan and therefore is
not affected by this provision) shall constitute a part of and not be additional to
the annuity provided under this Plan; that is to say, an annuitant under the
Widows Supplemental Annuity Plan shall not be entitled to any refund of dues
and accrued interest thereon provided for in the existing retirement plans but
such dues and accrued interest shall be applied towards the widows annuity provided
for under this Plan.
(15) Actuarial Reserves—When a widows annuity becomes effective, then
out of the dues and accrued interest referred to in paragraph (14), out of the
member contributions, and out of the convention contributions, there shall be
set aside and thereafter maintained the actuarial equivalent of the widows annuity
thus entered upon to be carried in an annuity reserve account to provide
such annuity payments on the basis of the table of mortality and the rate of
interest adopted by the Relief and Annuity Board for such purpose and then in
force.
(16) Reduction in Contributions—In the event that the widows annuities
entered upon from year to year should require less annuity reserves than can
be provided through the member and convention contributions provided in
paragraphs (1) and (2), the Relief and Annuity Board shall so notify the convention
with the view to increasing the amounts of the widows annuities or of reducing
the required contributions.
(17) Increase in Contributions—In the event that the widows annuities entered
upon from year to year should require more annuity reserves than can be
provided through the member contributions and conyention contributions provided
in paragraphs (1) and (2), the additional amounts required shall be certified
to the convention by the Relief and Annuity Board so that the reserve funds
shall be sufficient at all times to provide the widows annuities outlined herein,
but if such additional amounts as may be required are not provided, then the
widows annuities payable shall be proportionately reduced in accordance with
the resources available to meet such reduced payments.
(18) Disability of Member—In the event that the member enters upon a
disability annuity under one of the retirement plans, the convention shall continue
the convention contributions and shall assume also the member contributions
on the salary basis upon which the contributions were paid during the year
immediately preceding commencement of the disability annuity in order that
the widow of such member may receive continued protection under this Plan.
(19) Administration by Annuity Board—It is understood and agreed that
the Relief and Annuity Board of the Southern Baptist Convention shall administer
the Plan on behalf of the convention and that the widows annuities
payable hereunder are contingent upon the receipt by the Relief and Annuity
no Board financial of the obligations required contributions are assumed of by the the member Relief and and the Annuity convention Board and other
that