746                              Laws of Maryland                       [Ch. 582

the board of trustees. Should a member die prior to the expiration
of thirty days after the date of the filing of such election or prior
to thirty days after retirement, such election shall be void and of no
effect, and the benefits payable on his account shall be the same as
though his election had not been filed and he had died in active
service. A member who has elected an optional benefit may change
such election by due notice to the board of trustees, but no change
may be made after the first payment of his allowance becomes
normally due.

Option 1. If the member dies before he has received in annuity
payments the present value of his annuity as it was at the time of his
retirement, the balance shall be paid to such person, if any, as he
shall nominate by written designation duly acknowledged and filed
with the board of trustees, otherwise to his estate; or

Option 2. Upon his death, his reduced retirement allowance shall
be continued throughout the life of and paid to such person as he
shall nominate by written designation duly acknowledged and filed
with the board of trustees at the time of his retirement; or

Option 3. Upon his death, one half of his reduced retirement
allowance shall be continued throughout the life of and paid to such
person as he shall nominate by written designation duly acknowl-
edged and filed with the board of trustees at the time of his retire-
ment; or

Option 4. Some other benefit or benefits shall be paid either to
the member or to such person or persons as he shall nominate, pro-
vided such other benefit or benefits), together with the reduced re-
tirement allowance, shall be certified by the actuary to be of equiv-
alent actuarial value to his retirement allowance, and shall be ap-
proved by the board of trustees.

(b) Notwithstanding anything to the contrary in this subsection
or elsewhere in this Article, the provisions of this paragraph apply
to any member who meets the qualifications necessary to request
service retirement benefits but who elects to continue as a member in
service under EITHER OPTION 2 OR Option 3 above, from and
after the time he makes that election. When such a member decides
to retire, in his discretion he may elect another option, using the pro-
cedure described in paragraph (a). If such a member dies while in
service, the beneficiary-spouse (but not any other beneficiary) shall
receive benefits under EITHER OPTION 2 OR Option 3 as if the

member had retired before death. The board of trustees shall deter-

mine the actuarial cost of administering the provisions of this para-

graph, and the cost shall be divided, one half to be included in the

State's contribution to the Retirement System and one-half to be
included in the contributions of those members who meet the quali-
fications necessary to request service retirement benefits but who
elect to continue as members in service under Option 3 above.

Sec. 2. And be it further enacted, That this Act shall take effect
July JUNE 1, 1959.

Approved April 28, 1959.