Death benefit, amount of
39 Death benefit, amount of
Subject to regulation 42, if a Gold State Super Member dies while still an eligible Gold State worker the Board is to pay a benefit of an amount equal to B in the formula —
where —
R is the Member’s final remuneration; and
M is the number of complete months in the Member’s contributory membership period; and
F is —
if the Member died while under 60, the number of complete months from that day to the day when the Member would have turned 60; or
otherwise, zero;
and
P is —
if the Member was working on a part‑time basis at the time the Member died, the number of hours customarily worked in a week by the Member divided by the number of hours customarily worked in a week by a comparable full‑time employee (excluding overtime); or
otherwise, one;
and
C is the Member’s average contribution rate.
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