(a) Scope of section.- This section applies only to a retiree who has retired with a service retirement allowance or a disability retirement allowance or a former member who has retired with a deferred vested allowance.
(b) Benefits to be paid.- On the death of a retiree or former member, the Board of Trustees shall pay 80% of the retiree's retirement allowance:
(1) to the surviving spouse; or
(2) if there is not a surviving spouse or if the surviving spouse dies before the youngest child is 18 years old, to any children of the deceased retiree who are under 18 years of age.
(c) Children's allowance.- If the Board of Trustees pays an allowance to more than one child, the Board of Trustees shall divide the allowance among the children under the age of 18 years in a manner that provides for payments to continue until each child dies or becomes 18 years old.
(a) Scope of section.- This section applies only to a retiree who has retired with a service retirement allowance or a disability retirement allowance or a former member who has retired with a deferred vested allowance.
(b) Benefits to be paid.- On the death of a retiree or former member, the Board of Trustees shall pay 80% of the retiree's retirement allowance:
(1) to the surviving spouse; or
(2) if there is not a surviving spouse or if the surviving spouse dies before the youngest child is 18 years old, to any children of the deceased retiree who are under 18 years of age.
(c) Children's allowance.- If the Board of Trustees pays an allowance to more than one child, the Board of Trustees shall divide the allowance among the children under the age of 18 years in a manner that provides for payments to continue until each child dies or becomes 18 years old.
(a) Scope of section.- This section applies only to a retiree who has retired with a service retirement allowance or a disability retirement allowance or a former member who has retired with a deferred vested allowance.
(b) Benefits to be paid.- On the death of a retiree or former member, the Board of Trustees shall pay 80% of the retiree's retirement allowance:
(1) to the surviving spouse; or
(2) if there is not a surviving spouse or if the surviving spouse dies before the youngest child is 18 years old, to any children of the deceased retiree who are under 18 years of age.
(c) Children's allowance.- If the Board of Trustees pays an allowance to more than one child, the Board of Trustees shall divide the allowance among the children under the age of 18 years in a manner that provides for payments to continue until each child dies or becomes 18 years old.
