Upon the occurrence of the death of a participant, there shall be benefits payable in accord with the following sections of this Article XIX.
If a participant hereunder who is receiving a benefit under § 57-80 or 57-89, or is eligible to receive a benefit under § 57-80 shall die or shall be killed in service and be survived by a spouse or any children under the age of 18, there shall be a survivor benefit payable monthly hereunder. The survivor benefit payable hereunder shall be in an amount equal to 100% of the monthly benefit the participant was receiving or entitled to receive as of the date of death.
The survivor benefit shall be paid to the surviving
spouse until the date of death of the surviving spouse. Upon the death
of the surviving spouse or upon the death of the participant with
no surviving spouse but with any surviving children under age 18,
the survivor benefit shall be paid in equal shares to the surviving
dependent children of the deceased participant. Dependent children
shall include the children of the deceased participant who have not
attained 18 years of age. The shares payable to the surviving dependent
children shall be adjusted as each child ceases to be eligible to
receive a share of the benefit hereunder.
If a participant shall die prior to the commencement of the payment of any retirement or other benefits under this plan, and without eligibility for payment of a survivor benefit under § 57-94, the beneficiary shall be entitled to receive a distribution of the participant's accumulated contributions determined as of the date of death of the participant.
If a participant shall die after commencement of a benefit under § 57-80 or 57-89 and without eligibility for payment of a survivor benefit under § 57-94, and the total amount of benefits paid to the participant does not at least equal or exceed the participant's accumulated contributions as of the date of death, there shall be paid to the beneficiary an amount equal to the difference between the amount of benefits paid and the amount of the participant's accumulated contributions. If the benefits paid equals or exceeds the amount of the participant's accumulated contributions, there shall be no additional amounts due or payable hereunder.
