Alternative Death Benefits
If you die while in service after having become eligible to retire, an alternative death benefit may be payable. This benefit would equal the initial value of your pension under the provisions of the Non-Contributory Retirement Plan (Section 375-c) or this special plan as of the date of your death. A comparison will be made and the greater benefit will be paid.
Out-of-Service Death Benefit
If you are a vested member with at least ten years of credited service, have not retired, and you die more than one year after leaving public employment, 50 percent of the death benefit may still be payable. This vested benefit is also payable if you die within one year of leaving covered service but were gainfully employed during that time.
Your family or employer should notify us of your death as soon as possible so we can send the appropriate forms to your beneficiary.