Payment in lump sum to survivor beneficiary of and to additional payees designated by member; exception

1. Except as otherwise provided in subsection 2, any survivor beneficiary eligible for payments pursuant to the provisions of NRS 286.67675 or 286.6768 may elect to waive payment of a monthly allowance and to receive instead in a lump sum a refund of all contributions to the Public Employees’ Retirement Fund or the Police and Firefighters’ Retirement Fund made by a deceased member plus any contributions made by a public employer in lieu of the employee’s contributions, but if more than one person is eligible for benefits on account of the contributions of any one deceased member, no such lump-sum payment may be made. 2. If the member had designated one or more payees in addition to the survivor beneficiary pursuant to NRS 286.6767, the lump sum to which a survivor beneficiary is entitled pursuant to subsection 1 must be divided between the survivor beneficiary and any additional payee in the proportion designated by the member pursuant to NRS 286.6767. 3. As used in this section, “survivor beneficiary” means a person designated pursuant to NRS 286.6767.