U.S. Bank Pension Plan Summary Plan Description

U.S. Bank Pension Plan SPD Effective January 2011
FORMS OF PAYMENT
Cash Balance Participants can elect to receive their "A" benefit in any of the optional forms that
were available prior to January 1, 2002, and in any of the estate protection annuity forms of
payment that are available for the "B" portion of their benefits. The optional forms available for
"A" benefits include:
� single lump sum payment;
� level single life annuity;
� increasing single life annuity;
� estate protection single life annuity;
� level 50% qualified joint and survivor annuity;
� increasing 50% qualified joint and survivor annuity;
� level 50% or 100% joint and survivor annuity;
� increasing 50% joint and survivor annuity;
� estate protection 50% or 100% joint and survivor annuity; and
� 5, 10 or 15 year term certain and life annuity.
Forms listed here that are not listed in the Summary are not available for payment of the "B"
portion of a Cash Balance Participant's benefits. The joint annuitant under any of the listed joint
and survivor annuity forms of benefit, other than a qualified joint and survivor annuity, can be a
domestic partner. The 100% joint and survivor options (with or without estate protection) are not
available with a domestic partner that is more than 10 years younger than the Cash Balance
Participant who earned the benefit.
Default Forms
If you are single when payments begin and you do not elect otherwise, your "A" benefit will be
paid in the form of a single life annuity. If you are married when payments begin and you do not
elect otherwise (with your spouse's written consent), your "A" benefit will be paid in the form of
a level 50% qualified joint and survivor annuity.
Earlier Commencement of "A" Benefits
While "B" benefits generally cannot be paid until after termination of employment and attainment
of age 55, payment of benefits earned prior to January 1, 2002 by a Cash Balance Participant may
begin at any time after termination of employment.
Coordination of Benefit Payments
If the Plan allows both the "A" and "B" portions of a Cash Balance Participant's benefit to be paid
at the time and form elected, then both must be paid at that time and in that form. (Generally,
whenever possible the Plan pays both parts of your benefit together.)
If:
� your "B" benefit is not available for payment to you on the date you select for payment of
your "A" benefit, or
� your "B" benefit cannot be paid in the same form as your "A" benefit,
you may elect a different payment time and form for your "B" benefit. This rule will not apply,
however, and you will not be allowed to elect a different payment time and form for your "B"
benefit, if the total value of your "B" benefit is $1,000 or less and the form elected for your "A"
benefit is payment in a single lump sum or payment in a form generally available for "B"
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