86.100. Optional allowances.
Optional allowances.
86.100. With the provision that no optional selection shallbe effective in case a beneficiary dies within thirty days afterretirement, in which event such a beneficiary shall be consideredas an active member at the time of death. Until the firstpayment on account of any benefit becomes normally due, anybeneficiary may elect to receive his benefit in a retirementallowance payable throughout life or he may elect to receive theactuarial equivalent at that time, of his retirement allowance ina lesser retirement allowance, payable throughout life with theprovision that:
Option 1. If he dies before he has received in payments thepresent value of his retirement allowance as it was at the timeof his retirement, the balance shall be paid to his legalrepresentatives or to such person as he shall nominate by writtendesignation duly acknowledged and filed with the board oftrustees; or
Option 2. Upon his death, his retirement allowance shall becontinued throughout the life of and paid to such person as heshall nominate by written designation duly acknowledged and filedwith the board of trustees at the time of his retirement; or
Option 3. Upon his death, one-half of his retirementallowance shall be continued throughout the life of and paid tosuch person as he shall nominate by written designation dulyacknowledged and filed with the board of trustees at the time ofhis retirement; or
Option 4. Some other benefit or benefits shall be paideither to the member or to such person or persons as he shallnominate provided such other benefit or benefits, together withthe lesser retirement allowance, shall be certified by theactuary to be of equivalent actuarial value to his retirementallowance and shall be approved by the board of trustees.
(RSMo 1939 § 9469)Prior revision: 1929 § 8911