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1984 Ordinances
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1984 Ordinances
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Last modified
2/6/2009 3:42:35 PM
Creation date
6/21/2001 4:58:30 PM
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Ord/Resolutions
Year
1984
Ord/Resolutions - Type
Ordinances
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s,ubsequ~nt lifetime of such spouse, provided, however, <br />that if th? member's retirsmentis for disability, the election <br />of the 'reti~e~e~tallowance ~to be ~onBinued,after the ~mber's <br />death shall be limited to a maximum of one~helf of the <br />decreased retirement allowance received by the member during <br />his lifetime. <br /> <br /> f2) SOCIAL SECURITY OPTION~ If a member retires prior <br />to his normal retirement date, he may elect to receive an <br />increased retirement allowance up to his no,mai retirement <br />date and a decreased retirement allowance thereafter, thereby <br />providing a more nearly level ~etireanent income When such <br />decreased retirement allowance is added to his anticipated <br />primary benefits under the Social Security Act. <br /> <br /> (3) OTHER OPTIONS. The member may elect some other <br />combination of benefits to the~ember and/or to such other <br />beneficiary or beneficiaries as the member shall designate, <br />provided, however, that if the member's retirement is for <br />disability, the election of the retirennent allowance to be <br />continued after the meraber's death sould be limited to a maximum <br />of one-half (1/2) of the decreased retirement allowance <br />received by the member during his lifetime. <br /> <br /> {b) The election by a member of any one of:the options <br />stated in this section shall be null and void if the member <br />dies prior to retirement, and the election by a member of the <br />joint and last survivor option shall be null and void if the <br />designated beneficiary dies before the member has retired. <br /> <br /> (c) A member who has elected any one of the options <br />stated in this section may, at any time prior to the later of <br />the effective date of the member's retirement or,the date of <br />written notification to the board of retirement of the member, <br />revoke such an election by written notification %o the board. <br /> <br />Sec%i, on 31-275. Payment of death benefits. <br /> <br />Ail lump sum p~yments falling due under this ~rticle <br />upon the~death ~f ~a~memb~r Or for~e~ member shat~ be aid to <br /> P <br />such person or persons, if any, aS the nlember ~hall have <br />designated to be the beneficiary thereof, otherwise to the <br />executors or administrators of the member. ~ny such bene- <br />ficiary designation shall be made in writing and !filed with <br />the board in such manner as may be required by t~e board. <br />Any such designation may be chan~ed from time to ~ime by <br />the member by his filing with th~ board a new wri:tten desig- <br />nation. <br /> <br />29 <br /> <br /> <br />
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