In the event of termination of membership with New York State Employees' Retirement System by the death of a member participating in the retirement plan provided for in article 14 of the Retirement and Social Security Law, where no application for death benefits has been approved by the Comptroller on account of such member's death and where there are no individual's eligible to receive death benefits on account of such member's death under the provisions of article 14 of the Retirement an Social Security Law and the regulations promulgated thereunder, accumulated contributions shall be refunded to the beneficiary duly designated by the member on a form prescribed by and filed with the Retirement System for this purpose. In the absence of such designation of beneficiary, any accumulated contributions made by the deceased member shall be refunded to his estate. Such duly designated beneficiary or, in the absence thereof, the estate's legal representative, must file a written request for such a refund with the Retirement System on a form prescribed by the Retirement System for this purpose. The Retirement System shall thereupon refund the accumulated contributions.