(a) An election under Section 45-49A-63.81 shall be made in a time and manner determined by the board and shall be signed by the member and witnessed by a notary.
(b) An election of an option under Section 45-49A-63.81 may be revoked and subsequent elections and revocations may be made, in a time and manner determined by the board, prior to the member’s annuity starting date. An election of an optional benefit shall be effective on the member's annuity starting date and may not be modified or revoked after his or her annuity starting date. A revocation of any election shall be effective when the completed form is filed with the board. If a member who has elected an optional benefit dies before his or her annuity starting date, the election shall be void. If the beneficiary designated under an option dies before the date the election of the option becomes effective, the election shall be void.
Last modified: May 3, 2021