1. Except as otherwise provided in this subsection, the survivor beneficiary of a deceased member is entitled to receive a cumulative benefit of at least $450 per month. If a member has designated one or more payees in addition to the survivor beneficiary pursuant to NRS 286.6767, the cumulative benefit paid pursuant to this subsection must be divided between the survivor beneficiary and any additional payee in the proportion designated by the member pursuant to NRS 286.6767. The payments must begin on the first day of the month immediately following the death of the member and must cease on the last day of the month in which the survivor beneficiary dies.
2. Except as otherwise provided in this subsection, if payments made pursuant to subsection 1 cease before the total amount of contributions made by the deceased member have been received by the survivor beneficiary, the surplus of contributions over payments received must be paid to the survivor beneficiary. If the member had designated one or more payees in addition to the survivor beneficiary pursuant to NRS 286.6767, the surplus of contributions over payments received must be divided between the survivor beneficiary and any additional payee in the proportion designated by the member pursuant to NRS 286.6767.
3. The benefits paid pursuant to this section are in addition to any benefits paid pursuant to NRS 286.673.
4. As used in this section, “survivor beneficiary” means a person designated pursuant to NRS 286.6767.
(Added to NRS by 2001, 1287; A 2003, 2066)
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