A survivor benefit shall be paid to the surviving spouse, if any, of the participant in an amount equal to 50% of the participant's accrued benefit as of the date of death. The survivor benefit shall be paid monthly to the surviving spouse, commencing on or after the date that would have been the participant's earliest retirement date if the participant had survived to such date, reduced based upon the plan's early retirement factors pursuant to § 47-19. Payment of this survivor benefit under this § 47-33 precludes any distribution of the participant's accumulated contributions pursuant to § 47-35.
In the event that a participant shall die after the receipt of any benefit payments under the plan, the beneficiary shall be entitled to the amount of the accumulated contributions of the participant minus the total amount of benefits paid under the plan. Notwithstanding anything contained herein to the contrary, where a joint and survivor form of benefit has been selected, payments upon the occurrence of the death of the participant shall first be made in accord with the form of benefit payment so selected, and the provisions of this § 47-33.1 shall be applicable upon the death of the survivor. Where the total amount of benefits paid under the plan exceeds the amount of the participant's accumulated contributions, there shall be no additional amounts due under the plan.
