Section 207-G. Ordinary death benefits of members of police retirement systems

1. As used in this section:    (a) "Member" means a contributor to the pension  system  of  any  city
  maintaining  a  police  pension  fund  based  upon  the  accumulation of
  deductions from the compensation or the  contributions  of  the  members
  thereof  and  payments  made  by  such city to pension reserves for such
  members, and  such  pension  system  provides  for  optional  retirement
  allowances.
    (b)  "Accumulated  deductions"  shall mean the sum of all the amounts,
  deducted from the compensation of a member of  such  pension  system  or
  contributed  by  him,  standing to his credit therein; together with the
  interest  thereon,  if  any,  as  provided  by  the  law,   charter   or
  administrative code governing such system.
    (c) "Pension" shall mean payments for life derived from appropriations
  for and payments into such pension system by such city.
    (d)  "Minimum period of service" shall mean a fixed number of years of
  service specified in a plan or option provided by  such  police  pension
  system  and  elected  by such member, as a necessary pre-requisite for a
  pension or retirement allowance upon retirement from service.
    (e) "Minimum age" means the age specified in a plan or option provided
  by such police pension system and elected by such member, as a necessary
  pre-requisite for a pension or retirement allowance upon retirement from
  service.
    2. Notwithstanding the provisions of any  general,  special  or  local
  law,  charter  or  administrative code, and in lieu of any lesser amount
  therein prescribed, upon the death of  a  member,  prior  to  the  first
  payment  of  a  retirement  benefit, who has attained the minimum age or
  completed  the  minimum  period  of  service,  as  elected  by  him  for
  retirement,  and whether or not such member shall have filed application
  for retirement, there shall be paid to his estate, or to such person  as
  he  has nominated or shall nominate by written designation duly executed
  and filed in accordance with the requirements of such respective  police
  pension systems:
    (a) His accumulated deductions; and in addition thereto,
    (b)  The  amount  of  the  reserve  equal  to the present value of the
  pension he would have received, under the provisions of the law, charter
  or administrative code governing such police pension system, if  he  had
  retired  and  become  entitled  to  a  pension  on  the  day immediately
  preceding the day of his death.
    The beneficiary of such deceased member shall have the right to accept
  such benefits in lump sums or in such periodic payments, on  an  annuity
  basis, as such beneficiary shall elect.
    3. Nothing contained in the foregoing provisions of this section shall
  be held or deemed to affect or to lessen any benefits greater than those
  set  forth in the foregoing paragraph two which are or shall be provided
  for by any such police pension system in respect of a member or  members
  thereof  dying  in  the course of or as the result of the performance of
  his duties.
    4. The provisions of this section shall not apply to  members  of  the
  New York state policemen's and firemen's retirement system.