44. Where the pension committee proceeds with the payment of the benefits of a member or beneficiary other than on demand, the pension committee must notify in writing the member or beneficiary concerned.
Where the payment of the benefits of a member or beneficiary whose pension is in payment is made by means of the purchase of an annuity, the notice must include the following information:
(1) the name and contact information of the insurer that guaranteed the annuity;
(2) the amount of the guaranteed annuity;
(3) the amount of the pension the member or beneficiary was receiving prior to the purchase of the annuity;
(4) the amount of the benefits target provided for under the plan.
In all cases the notice must also indicate that the member or beneficiary no longer has any connection to the plan.