Okla. Admin. Code § 715:10-9-5

Current through Vol. 42, No. 7, December 16, 2024

Section 715:10-9-5 - Payments to beneficiaries of deceased members

Death benefit payments will be made by TRS to the beneficiary(s) of each deceased member as expeditiously as possible. The following documents must be provided to TRS before payment can be made.

(1) The designated beneficiary(s) must provide a certified copy of the death certificate and complete a Claimant's Affidavit Form.

(2) When no designated beneficiary has been named or the designated beneficiary(s) predeceases the member, and no waiver is sought, permitted or allowed pursuant to OAC 715:10-9-6, the executor/administrator of the member's estate must provide a certified copy of the death certificate, complete Claimant's Affidavit Form, and provide Letters of Testamentary or other documentation of court appointment.

(3) Payments to minor children named as beneficiaries shall be made in accordance with applicable Oklahoma statutes. However, all such payments shall be distributed in accordance with the requirements of Section 401(a) (9) of the Internal Revenue Code and any regulations under that section. [See OAC 715:10-9-7, if the member and beneficiary were divorced before death].

(4) Prior to accepting the death benefit, the beneficiary(ies) of the $5,000 or $18,000 death benefit may timely sign an a Qualified Disclaimer of Death Benefit to directly transfer all or a portion of the death benefit to a licensed funeral director or facility.

Okla. Admin. Code § 715:10-9-5

Amended at 11 Ok Reg 4785, eff 9-12-94 (emergency); Amended at 12 Ok Reg 841, eff 1-5-95 through 7-14-95 (emergency)¹; Amended at 12 Ok Reg 3285, eff 7-27-95; Amended at 17 Ok Reg 204, eff 9-8-99 (emergency); Amended at 17 Ok Reg 3071, eff 7-13-00; Amended at 29 Ok Reg 854, eff 8-1-12

Amended by Oklahoma Register, Volume 41, Issue 23, August 15, 2024, eff. 9/1/2024

¹This emergency action expired before being superseded by a permanent action. Upon expiration of an emergency amendatory action, the last prior permanent text is reinstated. Therefore, on 7-15-95 (after the 7-14-95 expiration of the emergency action), the text of section 715:10-9-5 reverted back to the permanent text that was effective prior to 9-12-94, and remained as such until amended by permanent action on 7-27-95.