Basic death benefits - Election procedures.
San José Municipal Code § 3.24.2020
in effect3.24.2020 - Basic death benefits - Election procedures.
A. A member may elect or by a writing filed with the board to have all or part of the basic death benefit paid in monthly installments, fixed in number or amount and not involving life contingency, subject to such rules as the board may adopt. Regular interest shall be credited on the unpaid balance of benefits payable.
B. If a member dies without having made an election under subsection A. of this section, his beneficiary, after the death of the member and prior to the payment to him of the basic death benefit or any part thereof, may elect by a writing filed with the board to have the basic death benefit paid to him in the manner provided in subsection A. of this section.
C. When an election has been made to have the basic death benefit paid in accordance with subsection A. of this section, the first of such installments shall be paid on the first day of the month next following the date when the basic death benefit would otherwise be payable, and one of such installments shall be paid on the first day of each month thereafter. Such monthly installments shall be the actuarial equivalent of the portion of the basic death benefit to be paid in installments on the date that such basic death benefit would otherwise be payable.
D. The board may provide that any election by a member or by a beneficiary under the provisions of this section is void if the amount of this monthly installment is less than the minimum amount fixed by the board.
(Prior code § 2904.154.)
Source: City of San José, Municipal Code (Municode Library, library.municode.com)URL: https://library.municode.com/ca/san_jose/codes/code_of_ordinances?nodeId=TIT3PE_IIREPL_CH3.24RESYSUJU11951_PT20DE_3.24.2020BADEBELEPRFetched: 11/1/2026