Death After Retirement without Survivor Benefits

(a)Upon death of a member while in receipt of a service retirement annuity or disability retirement annuity, leaving no person entitled to survivor annuities as provided in § 8134 of this Chapter, the following shall be payable:

(1)The total amount of contributions made by the member, including regular interest, less the total amount of annuity payments received by the member; and

(2)A single sum death benefit payment in the amount of One Thousand Dollars ($1,000).

(b)Payment of these refunds and benefits shall be made to the beneficiary or beneficiaries designated by the member, in a nomination filed with the Board or if no such designation has been made, payment shall be made to the estate of the member.