1. (a) Benefits provided under this section are subject to IC 33-38-6-13 .

2. (b) If benefits are not payable to the survivors of a participant who dies, and if a withdrawal application is filed with the board, the total of the participant's contributions, plus interest at a rate specified by rule by the board and minus any payments made to the participant, shall be paid to:

   1. (1) the surviving spouse of the participant or a child or children of the participant, as designated by the participant;
   2. (2) any other dependent or dependents of the participant, if a spouse or designated child or children does or do not survive; or
   3. (3) the participant's estate, if a spouse, designated child or children, or other dependent does or do not survive.

3. (c) The amount owed a spouse, designated child or children, or other dependent or dependents, or estate under subsection (b) is payable within sixty (60) days from the date of receipt of the withdrawal application or in the monthly installments as the recipient elects.

   [Pre-2004 Recodification Citation: 33-13-10.1-12.]

As added by P.L.98-2004, SEC.17. Amended by P.L.16-2011, SEC.6.