49-15-503 - Benefits payable upon death of inactive member.
49-15-503. Benefits payable upon death of inactive member.
(1) If an inactive member who has less than 20 years of public safety service credit dies,the spouse at the time of death, or, if there is no spouse at the time of death, the member's minorchildren shall receive a refund of the member's member contributions or $500, whichever isgreater.
(2) (a) If an inactive member with 20 or more years of public safety service credit dies,the spouse at the time of death shall receive an allowance in an amount of 50% of the amount themember would have received had retirement occurred on the first of the month following themonth in which the death occurred.
(b) This allowance shall be based on years of service credit and final average monthlysalary under Section 49-15-402, reduced actuarially from age 50 to the age of the member at thetime of death if the member is under 50 years of age at the time of death.
Amended by Chapter 240, 2003 General Session