(a) Death of Participant. Upon the occurrence of the death of a participant, benefits shall be payable in accordance with this section.
(b) Survivor Benefits. If a participant dies after commencement of benefit payments hereunder or after the participant is eligible to retire under Section 296.04(a) and before retirement benefit payments commence, a survivor benefit shall be paid to the surviving spouse, if any, of the participant, in an amount equal to fifty percent of the participant's accrued benefit as of the date of death. The survivor benefit shall be paid to the surviving spouse until the earlier of the date of death or the remarriage of the surviving spouse. Upon the death or remarriage of the surviving spouse, the survivor benefit shall be paid monthly, in equal shares, to the surviving dependent children of the deceased participant, until a total of ninety-six monthly payments have been paid to the surviving spouse and dependent children combined or there ceases to be any beneficiaries for receipt of the surviving benefit, whichever shall first occur. Dependent children shall include the children of the deceased participant who have not attained eighteen 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.
(c) Death of Participant Prior to Retirement. If a participant dies before payment of a benefit has commenced and without eligibility for payment of a survivor benefit under subsection (b) hereof, the beneficiary shall be eligible to receive a distribution in an amount equal to the accumulated contributions of the participant as of the date of death of the participant. If the participant has received disability retirement benefits hereunder, the amount of distribution of accumulated contributions shall be reduced by the amount of disability retirement benefits which have been paid hereunder.
(Ord. 2139. Passed 3-15-93.)