§ 154-362. Beneficiary benefits.

Pensions for beneficiaries designated by individuals participating under the terms of this plan shall be three-quarters of the amount the pensioner was receiving at the time of his death, or the amount which such individual would have received had he retired with a normal pension benefit to which such person would have been entitled had he survived to age 65. Such benefits shall be payable to the beneficiary designated under this division, commencing with the date of death of the participant under this plan. However, if said beneficiary is more than five years younger than the pensioner, there shall be deducted from the beneficiary pension 1/12 of two percent per month for each month that such beneficiary is more than five years younger than the pensioner. However, said deduction of 1/12 of two percent per month shall not apply if the beneficiary is 60 years of age, or more, at the time of becoming eligible for benefits. No person shall be entitled to receive beneficiary benefits as a surviving spouse unless he or she shall have been married to the participant under this plan at least one year prior to the time he or she would otherwise become eligible for beneficiary benefits.

(Code 1983, § 24-3-72)