If the date of death of a member of Division A occurs prior to the commencement of
any benefits provided by this Act and prior to the first day of the month following
his fifty-fifth birthday and his completion of twenty (20) years of credited service,
his beneficiary shall receive a lump sum payment of the member's contributions standing
to the credit of the deceased member of Division A. If the date of death of a member
of Division A, who was in the active employment of the Employer on such date, occurs
prior to the commencement of any benefits provided by this Act, but subsequent to
the first day of the month following his fifty-fifth birthday and his completion of
twenty (20) years of credited service, his then living beneficiary shall receive a
monthly survivor benefit, which shall be payable on the first day of the month following
the date of death of the member of Division A and during the lifetime of such beneficiary.
Such monthly survivor benefit shall be computed as though the member of Division A
had retired on the day before his date of death and had elected option B as provided
in Section 2.27; provided, however, that if no beneficiary is living on the date of death of the
member of Division A, a refund of his contributions shall be payable to his estate.
In lieu of all other benefits payable to a beneficiary upon the death of a member
of Division A, the beneficiary may elect to receive a lump sum payment of the member's
contributions standing to the credit of the deceased member of Division A.
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