(a)     Prior to eligibility for retirement.

(1)     Service-connected. A death benefit shall be payable on behalf of any member who dies as a direct result of the performance of his duty as a firefighter, as follows:

a.     To the spouse, until death, a monthly benefit equal to forty (40) per cent of the member's regular base salary.

b.     If there is no spouse, or upon the death of the spouse, for each unmarried child until he shall have reached the age of eighteen (18), or until age twenty-two (22) if a full-time student in a fully accredited high school, college, or university, there shall be paid in equal monthly installments an amount equal to fifteen (15) per cent of the member's regular base salary. The non-student child's pension shall terminate on the earlier of death, marriage or the attainment of age eighteen (18). Legally adopted children shall be eligible the same as natural children. The maximum total amount payable to all such children shall be forty (40) per cent of the member's regular base salary. The trusteeship and disbursements of the pension to any child or children shall be determined by the board.

(2)     Nonservice-connected. The death benefit payable on behalf of a member becoming deceased, but not in the performance of duty, shall equal the member's accumulated contributions.

(b)     Deceased employees eligible for retirement. For any deceased member who was eligible for early or normal retirement as of his date of death, the benefit payable shall be that with the greater actuarial value as between the benefit specified in subsection (a)(1) of this section, and the retirement benefit determined as though the deceased member had retired on his date of death, with the resulting amount then being payable to the beneficiary on a monthly basis for ten (10) years, or on such other actuarially equivalent basis as approved by the board, so long as in accordance with section 23-92(b).

(c)     Notwithstanding subsections (a) and (b) above, in the event a member or terminated vested person, with ten (10) or more years of credited service, dies prior to retirement or prior to receipt of benefits, his or her beneficiary shall be entitled to the accrued normal or early retirement benefit payable at the deceased member's early or normal retirement age less the value of any benefits paid or payable under subsections (a) or (b).