67A.490 Death of member -- Benefit to designated beneficiary when no surviving spouse's, children's, or dependent parent annuities payable. - Kentucky Statutes

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67A.490 Death of member -- Benefit to designated beneficiary when no surviving spouse's, children's, or dependent parent annuities payable. (1) Upon death of a member, occurring while in active service, if no surviving spouse's annuity, children's annuities, or dependent parent annuities are payable, the
designated beneficiary of the member or his or her estate shall be entitled to a death
benefit equal to the total contributions made by the member, including the amount
of any employee contributions picked up by the urban-county government pursuant
to KRS 67A.510(2), without interest, or one thousand five hundred dollars ($1,500),
whichever is greater. (2) Upon death of a retired member, if no surviving spouse's annuity, children's annuities, or dependent parent annuities shall be due and payable, a death benefit
shall be paid to the designated beneficiary or estate of the member, equal to the
excess, if any, of the total contributions made by the member, including those
picked up pursuant to KRS 67A.510(2), to this fund to the date of retirement,
without interest, over the total annuity payments received by the member. The
minimum payment in such case shall be one thousand five hundred dollars ($1,500).
If a surviving spouse's annuity, children's annuities, or dependent parent annuities
are payable after the death of the retired member, the amount of such death benefit,
if any, shall be determined upon termination of annuity payments to all survivors of
the member, whether such termination occurs by death or other cause. Effective: April 4, 2006
History: Amended 2006 Ky. Acts ch. 144, sec. 8, effective April 4, 2006. -- Amended 1982 Ky. Acts ch. 166, sec. 40, effective July 15, 1982. -- Amended 1980 Ky. Acts
ch. 81, sec. 4, effective July 15, 1980. -- Created 1974 Ky. Acts ch. 106, sec. 14,
effective July 1, 1974.