49. Subject to a refund made under section 52, if a person having at least two years of service to his credit dies before 60 years of age, his spouse or, if he has no spouse, his successors shall be entitled to receive the actuarial value of the deferred annuity vested in the participant at the time of his death and which would have been payable to him at the age of 60.
1988, c. 85, s. 49; 1989, c. 75, s. 9; 1990, c. 5, s. 19; 1995, c. 46, s. 31.