- The primary beneficiaries of a deceased member who has paid less than 36 monthly contributions shall be entitled to lump sum benefit which shall be the higher of:
- monthly pension times the number of monthly contributions paid prior to the semester of death; or
- twelve (12) times the monthly pension.
The secondary beneficiaries of the deceased member shall be entitled to a lump sum benefit equivalent to:
- 36 times the monthly pension; if the member has paid at least 36 monthly contributions prior to the semester of death; or
- monthly pension times the number of monthly contributions paid or twelve (12) times the monthly pension, whichever is higher, if the member has paid less than 36 monthly contributions prior to the semester of death.
