(1) In accordance with the provisions of this part 9, if a member met the age and service credit requirements for service retirement as of the date of death, pursuant to the provisions of section 24-51-602 or 24-51-604, survivor benefits or a single payment shall be payable in the following order:
(a) To the cobeneficiary;
(b) To the surviving spouse of the member if no cobeneficiary specified in paragraph (a) of this subsection (1) exists;
(c) To qualified children if none of the persons specified in paragraphs (a) and (b) of this subsection (1) exist;
(d) To dependent parents if none of the persons specified in paragraphs (a) to (c) of this subsection (1) exist;
(e) To the named beneficiary if none of the persons specified in paragraphs (a) to (d) of this subsection (1) exist;
(f) To the estate of the deceased member if none of the persons specified in paragraphs (a) to (e) of this subsection (1) exist.
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