43:8A-11 - Death benefit upon death of member in service - New Jersey Statutes

43:8A-11.  Death benefit upon death of member in service
    (1) Upon the receipt of proper proofs of the death of a member in service on  account of which no accidental death benefit is payable under section twelve,  there shall be paid to such person as he shall have nominated by written  designation duly executed and filed with the board of trustees, otherwise to  his estate:

     (a) His aggregate contributions at the time of death;  and

      (b) If the member has five or more years of creditable service, an ordinary  death benefit of five thousand dollars ($5,000.00).

    (2) The beneficiary of an ordinary death benefit may elect to receive the amount payable in equal installments over a period of years or as a life annuity.

     L.1953, c. 423, p. 2134, s. 11.