38-763. Survivor benefits after
retirement
A. Except as provided in subsection B of this section, if a member dies after
distribution of retirement benefits commences, ASRS shall continue to distribute the
remaining portion of retirement benefits within the required distribution provisions of
section 401(a)(9) of the internal revenue code and the regulations that are issued under
that section by the United States secretary of the treasury as prescribed in section
38-775.
B. On the death of a retired member who is receiving benefits, the estate or
beneficiary of the member is entitled to receive at least the amount of the member's
contribution to ASRS plus interest, as determined by the director, less the benefits
received by the member. This amount is payable either as a lump sum or at the same
periodic rate in effect at the time of the member's death, as determined by the estate or
beneficiary.
|