In the event a participant shall die prior to retirement and without a surviving spouse or children eligible for benefits hereunder, there shall be payable to the severance beneficiary, as defined in Section 45-37A-51.236, in an amount equal to the participant’s total contributions to the system, without interest, less an amount, equal to one-half the total of all disability retirement benefits paid to the deceased participant prior to his or her death, if any, to participant’s severance beneficiary.