Georgia § 47-7-103 Benefits payable upon death; failure to designate beneficiary

Georgia Statutes

§ 47-7-103 — Benefits payable upon death; failure to designate beneficiary

Georgia § 47-7-103

Title47

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Bluebook

O.C.G.A. § 47-7-103 (2026).

Text

(a)In the event of the death of an active member who has not commenced receiving any benefits under this chapter, up to five selected beneficiaries of such deceased member shall be entitled to be paid the amount of $10,000.00 split equally among the selected beneficiaries, upon any selected beneficiary making proper application to the executive director of the fund. Such application shall be accompanied by a certified copy of the death certificate of the deceased member and such other information as may be required by the board.

(b)In the event of the death of a retired member of the fund who has not elected survivor benefits under Option A or B as provided for in subsection (d) of Code Section 47-7-100 and who has commenced receiving benefits under this chapter, but who has not received

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(a) In the event of the death of an active member who has not commenced receiving any benefits under this chapter, up to five selected beneficiaries of such deceased member shall be entitled to be paid the amount of $10,000.00 split equally among the selected beneficiaries, upon any selected beneficiary making proper application to the executive director of the fund. Such application shall be accompanied by a certified copy of the death certificate of the deceased member and such other information as may be required by the board. (b) In the event of the death of a retired member of the fund who has not elected survivor benefits under Option A or B as provided for in subsection (d) of Code Section 47-7-100 and who has commenced receiving benefits under this chapter, but who has not received total benefits in an amount equal to $10,000.00, up to five beneficiaries selected by the member shall be entitled to receive an equally apportioned amount from the difference between $10,000.00 and the amount of benefits received by such deceased member, upon making application as provided for in subsection (a) of this Code section. (c) In the event of the death of an active member or a retired member who failed to designate a beneficiary, or if all named beneficiaries have predeceased such member, any benefits otherwise payable under subsections (a) or (b) of this Code section shall be payable to such member's estate.

Legislative History

Amended by 2020 Ga. Laws 370,§ 1, eff. July 1, 2020, only if it is determined to have been concurrently funded as provided in Chapter 20 of Title 47 of the Official Code of Georgia Annotated, the "Public Retirement Systems Standards Law". Amended by 2019 Ga. Laws 248,§ 1, eff. 7/1/2019. Amended by 2015 Ga. Laws 133,§ 11, eff. 7/1/2015. Amended by 2010 Ga. Laws 459,§ 6, eff. 7/1/2010.