545P - Death Benefits
Pay out of unused sick and annual leave for the death of an employee during the year shall be equal to the following: (1) the number of accrued and accumulated unused sick-leave days (not including sick leave bank) multiplied by 75 percent of the degreed substitute rate, plus (2) the number of accrued and accumulated unused annual leave days multiplied by the employee's daily rate.
Death benefits shall be paid to the beneficiary(s) as last designated by the employee in his or her Virginia Retirement System life insurance and contribution refund designation form (one-half of death benefit to the life insurance beneficiary(s) and, one-half of death benefit to the contribution-refund beneficiary(s). If no Virginia Retirement System designation is on file, the death benefits shall be paid to the estate of the deceased employee.
Adopted: February 6, 1990
Amended: June 14, 2000
Amended: July 1, 2015