Section 3-13C-19 - Death benefit after retirement determination-Payment amount determinedAny death benefit after a participant's retirement will be determined by the form of retirement benefit in effect on that date. If the participant has a dependent child on the date of death after retirement date, payments shall be made as follows:
(1) For each dependent child of the participant with a surviving spouse, the amount of payments is equal to the least of:(a) Sixty percent of the participant's average compensation on the date of death, divided by the number of dependent children;(b) Seventy-five dollars; or(c) Two hundred twenty-five dollars, divided by the number of dependent children. The payments to a dependent child are in addition to the payments made to the surviving spouse; and
(2) For each dependent child of a participant who does not have a spouse on the date of death, the amount of payments is equal to the least of: (a) Seventy-five percent of the participant's average compensation on the date of death, divided by the number of dependent children;(c) Two hundred seventy dollars, divided by the number of dependent children.Added by S.L. 2020, ch. 13,s. 26, eff. 7/1/2020.