Section .0300 ‑ Benefits

Link to law: http://reports.oah.state.nc.us/ncac/title 20 - state treasurer/chapter 02 - retirement systems/subchapter l/20 ncac 02l .0301.html
Published: 2015

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SECTION .0300 ‑ BENEFITS

 

 

20 NCAC 02L .0301          DEATH BENEFITS

(a)  A lump‑sum death benefit of five thousand dollars

($5,000.00) shall be paid to the designated beneficiary upon the death of an

active participant and four thousand dollars ($4,000.00) upon the death of a

retired participant; provided that, the officer had been a participant for at

least six months; or, in case of accidental death, eligibility dates from the

time of acceptance as a participant.

(b)  The death benefit shall be paid only upon written

application of the designated beneficiary.  Should the designated beneficiary

or beneficiaries, predecease the participant, the death benefit shall be paid

to the participant's estate.  The board shall require the filing of a death

certificate and such additional information as may be deemed necessary by the

board.

(c)  The board shall determine the eligibility of any person

applying to receive the death benefit.

 

History Note:        Authority G.S. 143‑166.60;

Eff. August 1, 1983.