§ 2-532. Pre-retirement death.

(a)

Deceased members vested or eligible for retirement with spouse as beneficiary. This subsection (a) applies only when the member's spouse is the sole designated beneficiary. The spouse beneficiary of any member, who dies and who, at the date of his death, was vested or eligible for early or normal retirement, shall be entitled to a benefit as follows:

(1)

If the member was vested, but not eligible for normal or early retirement, the spouse beneficiary shall receive a benefit payable for ten years, beginning on the date that the deceased member would have been eligible for early or normal retirement, at the option of the spouse beneficiary. The benefit shall be calculated as for normal retirement based on the deceased member's credited service as of the date of his death and reduced as for early retirement, if applicable. The spouse beneficiary may also elect to receive an immediate benefit, payable for ten years, which is actuarially reduced to reflect the commencement of benefits prior to the early retirement date.

(2)

If the deceased member was eligible for normal or early retirement, the spouse beneficiary shall receive a benefit payable for ten years, beginning on the first day of the month following the member's death or at the deceased member's otherwise normal retirement date, at the option of the spouse beneficiary. The benefit shall be calculated as for normal retirement based on the deceased member's credited service as of the date of his death and reduced as for early retirement, if applicable.

(3)

A spouse beneficiary may not elect an optional form of benefit, however, the board may elect to make a lump sum payment pursuant to subsection 2-535(g).

(4)

If the surviving spouse beneficiary commences receiving a benefit under subsection (1) or (2) above, but dies before all payments are made, the actuarial value of the remaining benefit will be paid to the spouse beneficiary's estate in a lump sum.

(b)

Deceased members vested or eligible for retirement with non-spouse beneficiary. This subsection applies only when the member's spouse is not the beneficiary or is not the sole designated beneficiary, but there is a surviving beneficiary.

The beneficiary of any member who dies and who, at the date of his death was vested or eligible for early or normal retirement, shall be entitled to a benefit as follows:

(1)

If the member was vested, but not eligible for normal or early retirement, the beneficiary will receive a benefit payable for ten years. The benefit will begin by December 31 of the calendar year immediately following the calendar year in which the member died. The benefit will be calculated as for normal retirement based on the deceased member's credited service and actuarially reduced to reflect the commencement of benefits prior to the normal retirement date.

(2)

If the deceased member was eligible for normal or early retirement, the beneficiary will receive a benefit payable for ten years, beginning on the first day of the month following the member's death. The benefit will be calculated as for normal retirement based on the deceased member's credited service as of the date of his death and reduced for early retirement, if applicable.

(3)

A beneficiary may not elect an optional form of benefit, however the board may elect to make a lump sum payment pursuant to subsection 2-535(g).

(4)

If a surviving beneficiary commences receiving a benefit under subsection (1) or (2) above, but dies before all payments are made, the actuarial value of the remaining benefit will be paid to the surviving beneficiary's estate in a lump sum.

(c)

Supplemental benefit. Upon eligibility for a benefit under this section 2-531, a member may also have a right to a lump sum payment of any supplemental benefit provided pursuant to section 2-549.

( Ord. No. 2015-02 , § 1, 3-3-15; Ord. No. 2017-9 , § 2, 7-7-17)