IMPORTANT INFORMATION ABOUT YOUR RETIREMENT BENEFIT You have reviewed the payment options and the amount of those options on-line, The amounts shown under each available payment option are calculated using factors and assumptions known at the time of the calculation to approximate your benefit for the date you selected. You will be receiving a written copy of these payment options and dates. This document contains additional important information that you need to review and consider before continuing to commence your benefit. Qualified Joint and Survivor Annuity The plan is required by Federal law to provide a Qualified Joint & Survivor Annuity (QJSA) as a Normal Payment Option for married participants with your spouse as the Beneficiary in the event of your death. Your plan's QJSA is identified in your statement as Your plan's normal payment option for married participants in the list of payment options. You have the right to waive the QJSA payment option and choose another payment option listed in Your Pension Benefit Modeling Statement, provided your spouse signs a notarized written consent no earlier than either 90 or 180 days prior to your Benefit Commencement Date. This date will be determined by your plan and outlined in your modeling statement. Spousal Consent Spousal Consent is required if you choose a payment option other than the QJSA because doing so could potentially reduce or eliminate your spouse's right to a benefit upon your death. Spousal Consent will also be required to elect a beneficiary other than your spouse. You will be notified if Spousal Consent will be required when you log-on to NetBenefits to make your election preferences. You will also have the right to rescind your payment option election and elect the QJSA payment option at any time prior to your Benefit Commencement Date The ability to compare one payment option value to another can be challenging considering the various features each option provides. Relative Value allows you to compare each optional form of payment (as a percentage of the total dollar value) to the total value of the plan's Normal Payment Option given identical assumptions. The payment options listed in the Your Qualified Benefits section have been compared to your Normal Payment Option. The 50% Continuation Benefit is your plan's normal form for relative value illustration purposes. You should be cautious not to base your election decision solely on the Relative Value, but rather include it as part of your overall decision regarding which payment option features best fit your particular retirement needs (Refer to Additional Information for more on Relative Value of Different Payment Options). Relative Value of Different Payment Options Relative Value is a comparison of the total value of an alternative payment option as a percentage of the plan's normal payment option. This calculation is made using certain assumptions like average life expectancies and interest rates. The Relative Value calculation may utilize different interest rate(s) as defined by the Plan. The interest rate(s) for a given payment option will either be a single or a tiered interest rate(s). Your modeling on-line and the statement that you receive in the mail will contain the actual interest rate(s) used to calculate the Relative Value of the payment options that you have modeled for the Plan. The Relative Value percentage allows you to compare the total value of a payment option to the total value of the normal payment option. These calculations are based on average life expectancies for both you and your beneficiary, if a beneficiary is applicable, and a standard interest rate. The Relative Value of payments ultimately made under a payment option will depend on the actual longevity of each individual. If you would like information regarding the life expectancy (mortality tables) and interest rate assumptions used, you may call your Benefits Center.