Upon the death of a member, inactive member, retired member or individual receiving a survivor’s pension, there shall be paid to the designated beneficiary or beneficiaries or, in the absence of a designated beneficiary, to the estate of the member, inactive member, retired member or survivor, a lump sum equal to the excess, if any, of the accumulated member contributions with interest over the aggregate of all pension payments made.
62 Del. Laws, c. 398, § 1.
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