In the event of the death of a participant prior to his retirement date, who has a
vested interest in the plan, a death benefit shall be paid to his designated beneficiary
by a lump sum payment equal to one (1) times the annual pay for less than fifteen
(15) years' service, and one and one-half (1 1/2) times the annual pay for over fifteen
(15) years' service with an overall maximum of thirty thousand dollars ($30,000.00).
The death benefits provided in this Section 9-38 shall continue to apply to all participants who are employed on September 30, 2011,
for as long as they are an employee under the plan
