67A.490 Death of member -- Benefit to designated beneficiary when no surviving

231 words·~1 min read·/ky/67a-490

A research copy — for the controlling text, always check the official state or federal source. Not legal advice.

spouse's, children's, or dependent parent annuities payable.

(1)Upon death of a member, occurring while in active service, if no surviving spouse's

annuity, children's annuities, or dependent parent annuities are payable, the

designated beneficiary of the member or his or her estate shall be entitled to a death

benefit equal to the total contributions made by the member, including the amount

of any employee contributions picked up by the urban-county government pursuant

to KRS 67A.510(2), without interest, or one thousand five hundred dollars ($1,500),

whichever is greater.

(2)Upon death of a retired member, if no surviving spouse's annuity, children's

annuities, or dependent parent annuities shall be due and payable, a death benefit

shall be paid to the designated beneficiary or estate of the member, equal to the

excess, if any, of the total contributions made by the member, including those

picked up pursuant to KRS 67A.510(2), to this fund to the date of retirement,

without interest, over the total annuity payments received by the member. The

minimum payment in such case shall be one thousand five hundred dollars ($1,500).

If a surviving spouse's annuity, children's annuities, or dependent parent annuities

are payable after the death of the retired member, the amount of such death benefit,

if any, shall be determined upon termination of annuity payments to all survivors of

the member, whether such termination occurs by death or other cause.