Ala. Admin. Code r. 800-2-1-.07

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

Section 800-2-1-.07 - Survivor Benefit Cancellation

(1) Any beneficiary who is receiving in lieu of the maximum retirement allowance an optional allowance which provides for a monthly survivor benefit may cancel the survivor portion of the optional allowance and designate a new beneficiary who shall receive, upon the death of the beneficiary, a pro rata payment representing the number of days such beneficiary lived during the month of his death.

(2) The election to cancel the survivor portion of the optional allowance shall be made on a form prescribed by the Board of Control and shall be irrevocable.

(3) Any cancellation of benefits made in accordance with this rule shall become effective upon receipt of the properly completed form at the offices of the retirement system or upon the date that such properly completed form is postmarked, whichever shall occur first.

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

Ala. Admin. Code r. 800-2-1-.07

Filed May 20, 1985; effective June 25, 1985.

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