Ala. Admin. Code r. 800-2-1-.03

Current through Register Vol. 43, No. 1, October 31, 2024

Section 800-2-1-.03 - Optional Allowances

(1) Beneficiaries electing to receive an optional allowance, in lieu of the maximum monthly retirement allowance, must make such election on a form duly prescribed by the Retirement System no later than the first of the month, during which their retirement is to be effective.

(2) If the Retirement System is not notified of a member's election to receive an optional allowance, then such member shall automatically receive the maximum retirement allowance.

(3) A member's election of the maximum retirement allowance, or his receipt thereof as a matter of law, shall become effective upon the first day of the month during which his retirement is effective.

Author: William T. Stephens, General Counsel, RSA.

Ala. Admin. Code r. 800-2-1-.03

Filed September 30, 1982; effective October 1, 1982.

Statutory Authority: Code of Ala. 1975, § 36-27-23(g).