§ 45-21-51 - Persons eligible for optional benefits – Time of election – Modification or revocation – Effective date.
SECTION 45-21-51
§ 45-21-51 Persons eligible for optionalbenefits – Time of election – Modification or revocation –Effective date. – (a) The optional provisions of § 45-21-30 are applicable only to a memberapplying for a service retirement allowance and an accidental disabilityretirement allowance and an ordinary disability retirement allowance or anyinactive member applying for retirement under vested rights. The election underoption 1 or 2 is made at the time of retirement of the member as part of his orher application for a retirement allowance. The election is based upon theamount of retirement allowances that may accrue at the date of death of themember, and may be revoked or modified by the member at any time afterretirement on a form prescribed by the retirement board, provided that duringthis time, the named beneficiary has not been divorced from the member orentered into a domestic partnership. The option in the case of death of aretired member becomes effective on the next day following the death of themember and payment of benefits made in accordance with the provisions of thissection, subject to the limitations prescribed in § 45-21-30; provided,further, that this section does not apply to anyone who elects the socialsecurity supplemental option as provided by § 45-21-17.2.
(b) This section is exempt from the provisions of§§ 45-13-6 – 45-13-10.