1. The pension benefits shall consist of 1% of the final average monthly salary, averaged over the final 36 months of employment multiplied by the years of service retirement.
2. Upon the death of an active member who is (A) eligible for retirement on the date of his/her death but who is not retired; or (B) an active vested or terminated vested employee on the date of his/her death, the surviving spouse shall be entitled to a survivor’s benefit equal to 50% of the participant’s benefit accrued at the time of his/her death. Payments of the benefits shall terminate upon death or remarriage of the surviving spouse. In the event that a spouse does not survive the member, but by minor dependent child(ren), the survivor benefit shall be paid to such child(ren), in equal shares, until he, she, or they shall have attained the age of 18 years. All benefits paid hereunder shall be paid monthly. [Res. 2007-03]
(Res. 01-1, 1/2/2001, §III; as amended by Res. 2005-07, 5/5/2005, § 1)