| (a) Subject to subsection
(b) of this section, if a retiree has more than one retirement account
through TMRS after retiring from more than one participating municipality,
and the participating municipality for each retirement account participates
in the post-retirement supplemental death benefits under §854.604
of the Act, only one supplemental death benefit will be payable upon
the death of such person. If a retiree has more than one retirement
account through TMRS after retiring from more than one participating
municipality, and the most recent retirement account was based on
retirement from a municipality that does not provide a post-retirement
supplemental death benefit for retirees, the retiree's beneficiary
shall receive a post-retirement supplemental death benefit based on
an earlier (and most recent) retirement account based on retirement
from a municipality that does provide such a benefit, but the retiree's
beneficiary shall not receive more than one supplemental death benefit.
(b) If a participant,
at the time of his or her death, is both (i) a retiree from a participating
municipality that is then providing post-retirement supplemental death
benefits and (ii) an employee of a participating municipality who
is included within the coverage or extended coverage of such municipality's
supplemental death program, only one supplemental death benefit will
be payable upon the death of such person and such benefit will be
the greater of the two amounts as calculated under §854.603 and
854.604 of the Act.
(c) For purposes of §854.605(a)(2)
of the Act, unless a member has directed otherwise on a TMRS prescribed
form filed with the system, if a supplemental death benefit is payable
upon the death of a retiree but the retiree's annuity has no further
remaining payments after the death of the retiree, then such supplemental
death benefit is payable to the beneficiary designation made for purposes
of the retiree's retirement annuity.
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