If all pension payments permanently terminate before an aggregate amount equal to the retired member‘s or deceased member’s accumulated member contributions has been paid, the difference between the amount of accumulated member contributions and the aggregate amount of pension payments made shall be paid to the individual or individuals whom the member may have named on a form provided by and filed with the retirement plan. If no such named individual survives, the difference shall be paid to the legal representative of the last surviving individual who was being paid a pension or the last surviving named individual.

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Terms Used In Arizona Laws 38-889

  • Accumulated member contributions: means for each member the sum of the amount of all the member's contributions deducted from the member's salary and paid to the fund, plus member contributions transferred to the fund by another retirement plan covering public employees of this state, plus previously withdrawn accumulated member contributions that are repaid to the fund in accordance with this article, minus any benefits paid to or on behalf of a member. See Arizona Laws 38-881
  • Pension: means a series of monthly payments by the retirement plan but does not include an annuity that is payable pursuant to section 38-911. See Arizona Laws 38-881
  • plan: means the corrections officer retirement plan established by this article. See Arizona Laws 38-881
  • Retired member: means an individual who terminates employment and who is receiving a pension pursuant to either section 38-885 or 38-886. See Arizona Laws 38-881
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