HARRY HUGHES, Governor

1129

[(ii) Notwithstanding the provisions of
this subsection or any other provisions of this article, the
heirs of any member, whose death occurred after July 1, 1977
and before July 1, 1978 and within 30 days of the date of
retirement, shall be eligible for the benefits which the
heirs would have been entitled to if the death had occurred
after July 1, 1978.]

86.

(8) (a) [(i)] In lieu of the disability or service
allowances payable under the aforesaid provisions, any
member may, prior to the first retirement allowance payment
normally due, elect a retirement allowance of equivalent
actuarial value in one of the optional forms set out below.
The election of the option shall be made on a form provided
for that purpose and shall be filed with the board of
trustees. Should a member die prior to the effective date
of retirement, the 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 he dies before he has received in
payments the present value of his retirement allowance as it
was at the time of his retirement, the balance shall be paid
to his legal representatives or to such person as he shall
nominate by written designation duly acknowledged and filed
with the board of trustees; 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 acknowledged and filed with the board of
trustees at the time of his retirement; 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 provided such other benefit or benefits,
together with the reduced retirement allowance, shall be
certified by the actuary to be of equivalent actuarial value
to his retirement allowance, and shall be approved by the
board of trustees.

[(ii) Notwithstanding the provisions of
this subsection or any other provisions of this article, the
heirs of any member whose death occurred after July 1, 1977
and before July 1, 1978 and within 30 days of the date of