(b) The guaranteed ordinary death benefit provided under this section to the beneficiary of such employee shall be three times the compensation earnable by him during his last twelve months of service as a member, raised to the next higher multiple of one thousand dollars, but in no event greater than twenty thousand dollars. Where such employee dies before rendering one year of service, the death benefit pursuant to this section shall be three times the compensation that the member would have earned had he worked for twelve months prior to the date of his death, raised to the next higher multiple of one thousand dollars, but in no event greater than twenty thousand dollars.
(c) The beneficiary shall receive the benefits provided by this section or those provided by section sixty of this article, whichever are greater.
(d) The provisions of this section shall apply in the case of death occurring on or after this section becomes law and prior to July first, nineteen hundred seventy-four.
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