(a) A death benefit shall be paid and any supplemental contributions shall be refunded to the designated beneficiary, upon receipt of a valid claim and proof of the death of a member who
Terms Used In Alaska Statutes 14.25.160
Beneficiary: A person who is entitled to receive the benefits or proceeds of a will, trust, insurance policy, retirement plan, annuity, or other contract. Source: OCC
Dependent: A person dependent for support upon another.
(1) is not retired and is not eligible for benefits under Alaska Stat. § 14.25.162 or 14.25.164; and(2) either
(A) has made supplemental contributions under Alaska Stat. § 14.25.055 since the date one year immediately preceding the member’s death or since July 1, 1983, whichever is later; or(B) is making supplemental contributions under Alaska Stat. § 14.25.055 but has made them for less than one year.(b) Upon the death of an active member who meets the conditions specified in (a) of this section, the amount of the death benefit is the sum of the following less any retirement benefit previously received by the member:
(1) the member contribution account;(2) $100 times the years of membership service;(3) $1,000; and(4) $500 if the deceased member is survived by one or more dependent children at the time of death and if the designated beneficiary is a dependent child of the member or is the parent or guardian of the dependent child of the member.(c) If the sum of (b)(2) and (3) of this section exceeds $3,000, only $3,000 may be added to amounts under (b)(1) and (4) in calculating the death benefit under (b) of this section.(d) Upon the death of an inactive member who meets the conditions specified in (a) of this section, the death benefit is the amount determined in (b)(1) of this section.(e) Upon the death of a disabled member who is not eligible for normal retirement and who meets the conditions specified in (a) of this section, the death benefit is the amount determined in (b) of this section.(f) Upon the death of a retired member who meets the conditions specified in (a) of this section, the death benefit is the amount determined in (b)(1) of this section less all retirement benefits paid to the deceased member.(g) If supplemental contributions have been made under Alaska Stat. § 14.25.055, benefits may be payable under Alaska Stat. § 14.25.162 or 14.25.164 if the deceased member meets the eligibility requirements of one of those sections.(h) Payment made to a beneficiary under this section is in place of any other benefit under Alaska Stat. § 14.25.009 – 14.25.220.
