19-3-1202. Amount of lump-sum death payment. The amount of payment to be made to those eligible for death payments is the sum of subsections (1), (2), and (3) as follows:
     (1) the member's accumulated contributions;
     (2) an amount equal to one-twelfth of the compensation received by the member during the last 12 months of compensation multiplied by the smaller of six or the number of years of the member's service credit; and
     (3) the accumulated regular interest on the amounts in subsections (1) and (2) to the first day of the month in which the payment is made.

     History: En. 68-2302 by Sec. 43, Ch. 323, L. 1973; R.C.M. 1947, 68-2302; amd. Sec. 1, Ch. 210, L. 1981; amd. Sec. 57, Ch. 613, L. 1989; amd. Sec. 79, Ch. 265, L. 1993.