Section 45-21.2-20 Persons eligible for optional benefits - Time of election - Modification or revocation

Section 45-21.2-20 Persons eligible for optional benefits - Time of election - Modification or revocation - Effective date.

RI Gen L § 45-21.2-20 (2019) (N/A)

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§ 45-21.2-20. Persons eligible for optional benefits - Time of election - Modification or revocation - Effective date. (a) The optional provisions of § 45-21.2-6(b) are applicable only to a member applying for a service retirement allowance, an accidental disability retirement allowance, an ordinary disability retirement allowance or any inactive member applying for retirement under vested rights. The election under option 1 or 2 is made at the time of retirement of the member as part of his or her application for a retirement allowance.

(b) The election is based upon the amount of retirement allowances that may accrue at the date of death of the member, and may be revoked or modified by the member at any time after retirement on a form prescribed by the retirement board; and, provided, further, that, during this time, the named beneficiary has not been divorced from the member.

(c) The option in the case of death of a retired member becomes effective on the day following the death of the member, and payment of benefits are made in accordance with the provisions of this section, subject to the limitations prescribed in § 45-21.2-6.

History of Section. (P.L. 1988, ch. 513, § 2; P.L. 1996, ch. 233, § 3; P.L. 2011, ch. 408, § 12; P.L. 2011, ch. 409, § 12.)

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