|
|
|
|
|
|
|
|
|
|
|
|
|
|
Resolution
|
|
|
|
|
|
|
|
(iii) The survivor allowance shall be payable until each child attains age 18.
17. Benefit - Death of member with less than 8 years of service.
(a) Application of section. This section applies only on the death of a member who:
(1) Is currently serving in the General Assembly; and
(2) Has less than 8 years of creditable service.
(b) Lump-sum death benefit.
(1") On the death of a member, the Board of Trustees shall pay a lump-sum death
benefit consisting of the sum of the member's accumulated contributions and an amount equal to the
member's annual salary at the time of death:
(i) To the member's surviving spouse, unless the member has a child under
the age of 18 years and the member is deemed to die contemporaneously with the member's spouse
or as a result of the same occurrence, in which case, in equal shares, to each child who has not
attained the age of 18; or
(ii) If there is no surviving spouse, to the member's designated beneficiary or
beneficiaries.
(2) If a member has designated more than one beneficiary, the lump-sum death
benefit provided in paragraph (1) of this subsection shall be divided equally among the beneficiaries.
18. Death of member - No beneficiary. On the death of a member who is not survived by a spouse,
a designated beneficiary, or a child who is eligible to receive a benefit under§ 16, § 17, or§ 18 of
this Item 3 A, the Board of Trustees shall pay the member's accumulated contributions to the estate
of the member.
19. Termination of rights in Plan. At any time after termination of service as a legislator but prior
to receiving a retirement allowance, a member may elect to withdraw the member's accumulated
contributions by completing an application for refund of contributions and submitting the application
to the Board of Trustees. A member who withdraws accumulated contributions does not have any
further rights under the Legislative Pension Plan.
|
|
|
|
|
|
|
|
6087
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|