(b) In the event a retired member dies within 30 days after the effective date of his retirement, and before his optional election becomes effective, sections 60 and 360 of the Retirement and Social Security Law, among other things, provide that his designated beneficiary shall be entitled to the ordinary death benefit. However, should a retired member die more than 30 days after the effective date of retirement, and without having selected an option, sections 90 (bb [2]) and 390 (bb [2]) mandate that he be deemed to have been retired under option one-half, which provides only for the return of the member's accumulated contributions, if any. In this latter case, no benefit will be paid to the beneficiary of a noncontributory member, since he will have had no accumulated contributions to his credit. Based upon the authority set forth in sections 90 (bb [1]) and 390 (bb [1]), this Part is promulgated to ensure that the provisions of sections 90 (bb [2]) and 390 (bb [2]) will not become applicable in the case of a pensioner who dies within 60 days following the effective date of retirement without making an effective election of an option, and:

1. (1) who had not been furnished with a retirement estimate within one year prior to the date of retirement; or
2. (2) who was furnished with a retirement estimate less than 14 days prior to the date of death.