Before July 1, 1993, if a qualifying member dies at any time before completing the age and service requirements for service retirement, the payment of ordinary death benefits is governed as follows. Beginning July 1, 1993, if a qualifying member dies before the member's service retirement benefit becomes effective, the payment of ordinary death benefits is governed as follows. In either case, the member's beneficiary may select only one of the death benefits.
1.(TEXT EFFECTIVE UNTIL CONTINGENCY: See PL 1991, c. 619, §18) Refund of contributions.
The amount of the qualifying member's accumulated contributions, as determined under section 17705‑A, is paid:
1.(TEXT EFFECTIVE ON CONTINGENCY: See PL 1991, c. 619, §18) Refund of contributions.
The amount of the qualifying member's accumulated
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Before July 1, 1993, if a qualifying member dies at any time before completing the age and service requirements for service retirement, the payment of ordinary death benefits is governed as follows. Beginning July 1, 1993, if a qualifying member dies before the member's service retirement benefit becomes effective, the payment of ordinary death benefits is governed as follows. In either case, the member's beneficiary may select only one of the death benefits.
1.
(TEXT EFFECTIVE UNTIL CONTINGENCY: See PL 1991, c. 619, §18) Refund of contributions.
The amount of the qualifying member's accumulated contributions, as determined under section 17705‑A, is paid:
1.
(TEXT EFFECTIVE ON CONTINGENCY: See PL 1991, c. 619, §18) Refund of contributions.
The amount of the qualifying member's accumulated contributions is paid:
2.
Survivor benefits.
Survivor benefits are governed as follows.
3.
Amount of survivor benefit payment to surviving spouse.
If the surviving spouse of the qualifying member elects a benefit under subsection 2, paragraph A, only one of the following options may be paid at one time.
4.
Amount of survivor benefit to dependent children.
If the dependent child or children or surviving spouse of the deceased qualifying member elects a benefit under subsection 2, paragraph A, the payment of benefits to the dependent child or children is governed as follows.
5.
Amount of survivor benefit to parents.
If the parent of the deceased qualifying member elects a benefit under subsection 2, paragraph A, the payment of benefits is governed as follows.
5-A.
Amount of survivor benefit to designated beneficiary.
If a designated beneficiary, other than the surviving spouse, dependent child, dependent children or the parent or parents of a deceased qualifying member, elects a benefit under subsection 2, paragraph A, the payment of benefits is governed as follows.
5-B.
Reduced retirement benefits.
Beginning July 1, 1993, instead of accepting the benefits under subsection 1 or 2, the first listed person under paragraph A living at the time of death of the qualifying member may elect the benefits in this subsection.
6.
Transfer of funds.
If benefits are paid under subsections 3 to 5‑B, the amount of the deceased qualifying member's accumulated contributions in the Members' Contribution Fund is transferred to the Retirement Allowance Fund.
7.
Death of beneficiary before payment.
If any person becomes entitled to the payment of benefits under this article and dies before either the refund check or the initial survivor benefit check is endorsed and presented to a holder in due course, the person is considered to have predeceased the qualifying member.
8.
Change of choice of payment option.
Any beneficiary under this article may change the choice of payment at any time up to the point of endorsement and presentation to a holder in due course of either the refund check or the initial survivor benefit payment.
9.
Defeat of survivor's option.
A qualifying member may specify that the refund of the member's accumulated contributions be paid to a designated beneficiary or to the qualifying member's estate in lieu of any payment to survivors under subsections 3 to 5‑B by filing an affidavit expressing that intent with the chief executive officer.
10.
Cost-of-living adjustment.
If a retirement benefit adjustment is made for retired state employees and teachers, the same percentage increase must be applied to the payments made under subsections 3 to 5‑B. The adjustment to payments made under subsections 3 to 5‑B becomes effective on the same day as the adjustment for state employees and teachers.
11.
Special options.
Instead of accepting the payment provided in subsection 1, 2, 5‑A or 5‑B, a beneficiary may elect to receive benefits under section 17852, subsection 4, paragraph A; section 17852, subsection 5 or 6; or article 5.
PL 1985, c. 801, §§5,7 (NEW). PL 1987, c. 529, §§1,2 (AMD). PL 1987, c. 823, §§1-3 (AMD). PL 1989, c. 658, §§2-4 (AMD). PL 1991, c. 469, §2 (AMD). PL 1991, c. 619, §10 (AMD). PL 2007, c. 137, §16 (AMD). PL 2007, c. 249, §28 (AMD). PL 2017, c. 402, Pt. C, §15 (AMD). PL 2017, c. 402, Pt. F, §1 (AFF). PL 2019, c. 417, Pt. B, §14 (AFF). PL 2021, c. 277, §§29, 30 (AMD). PL 2021, c. 277, §45 (AFF). PL 2021, c. 548, §45 (REV).