2006 New York Code - Death Of Participant In Variable Annuity Program.

 
    §  13-573  Death  of  participant  in  variable  annuity  program. The
  beneficiary of any benefits payable pursuant to section 13-542,  section
  13-543,  or subdivision e of section 13-556 of this chapter on the death
  of a participant in the variable annuity program shall be paid from  the
  variable annuity savings fund and the variable pension accumulation fund
  amounts  equal  to  the  value,  as  of  the date of death, of the units
  credited to the participant in the respective  fund.  The  participant's
  accounts in such fund shall thereupon be cancelled.