19-20-721. Designation of beneficiary. (1) Except as otherwise provided in this chapter, each member shall file with the board a written election designating a beneficiary who may be eligible to receive the benefit provided pursuant to this chapter. The board shall provide a form that may be used for this purpose. A member may revoke the written election and designate a different beneficiary by filing a new form for this purpose with the board.
(2) A beneficiary who renounces an interest in the right to a payment of a benefit will be considered, for the purposes of further payment by the board of a renounced interest, to have predeceased the member or beneficiary.
History: En. Sec. 21, Ch. 45, L. 2001; amd. Sec. 13, Ch. 59, L. 2011.