(a) Upon the death of any person, after retirement and while receiving a retirement allowance from this system, there shall be paid to the person’s beneficiary as nominated by written designation duly executed and filed with the board, the sum of five hundred dollars ($500), to be provided from contributions by the state or contracting agency, as the case may be.
(b) Notwithstanding Section 7522.44, the benefit amount authorized in subdivision (a) shall be increased to two thousand dollars ($2,000) for any death occurring on or after July 1, 2023.
(c) This section shall apply to all contracting agencies and to the employees of those agencies.