(a) A death benefit shall be paid and any supplemental contributions shall be refunded to the designated beneficiary, upon receipt of a valid claim and proof of the death of a member who
(1) is not retired and is not eligible for benefits under AS 14.25.162 or 14.25.164; and
(2) either
(A) has made supplemental contributions under AS 14.25.055 since the date one year immediately preceding the member's death or since July 1, 1983, whichever is later; or
(B) is making supplemental contributions under AS 14.25.055 but has made them for less than one year.
(b) Upon the death of an active member who meets the conditions specified in (a) of this section, the amount of the death benefit is the sum of the following less any retirement benefit previously received by the member:
(1) the member contribution account;
(2) $100 times the years of membership service;
(3) $1,000; and
(4) $500 if the deceased member is survived by one or more dependent children at the time of death and if the designated beneficiary is a dependent child of the member or is the parent or guardian of the dependent child of the member.
(c) If the sum of (b)(2) and (3) of this section exceeds $3,000, only $3,000 may be added to amounts under (b)(1) and (4) in calculating the death benefit under (b) of this section.
(d) Upon the death of an inactive member who meets the conditions specified in (a) of this section, the death benefit is the amount determined in (b)(1) of this section.
(e) Upon the death of a disabled member who is not eligible for normal retirement and who meets the conditions specified in (a) of this section, the death benefit is the amount determined in (b) of this section.
(f) Upon the death of a retired member who meets the conditions specified in (a) of this section, the death benefit is the amount determined in (b)(1) of this section less all retirement benefits paid to the deceased member.
(g) If supplemental contributions have been made under AS 14.25.055, benefits may be payable under AS 14.25.162 or 14.25.164 if the deceased member meets the eligibility requirements of one of those sections.
(h) Payment made to a beneficiary under this section is in place of any other benefit under AS 14.25.009 - 14.25.220.
Section: Previous 14.25.142 14.25.143 14.25.145 14.25.150 14.25.153 14.25.155 14.25.157 14.25.160 14.25.162 14.25.163 14.25.164 14.25.165 14.25.166 14.25.167 14.25.168 NextLast modified: November 15, 2016