495—11.4 (97B) Termination of monthly retirement allowance. A member’s retirement benefit shall terminate after payment is made to the member for the entire month during which the member’s death occurs. Death benefits shall begin with the month following the month in which the member’s death occurs.
Upon the death of the retired member, IPERS will reconcile the decedent’s account to determine if an overpayment was made to the retired member and if further payment(s) is due to the retired member’s named beneficiary, contingent annuitant, heirs at law or estate. If an overpayment has been made to the retired member, IPERS will determine if steps should be taken to seek collection of the overpayment from the named beneficiary, contingent annuitant, estate, heirs at law, or other interested parties.