PUBLIC EDUCATION. 967

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 equivalent actuarial value to his
retirement allowance, and approved by the Board of Trustees.

1927. ch. 344, sec. 97.
97. Administration.

Board of Trustees.

(1) The general administration and responsibility for the proper opera-
tion of the retirement system and for making effective the provisions of
this sub-title are hereby vested in a Board of Trustees which shall be
organized immediately after three of the trustees provided for in this
section have qualified and taken the oath of office.

(2) The Board shall consist of five trustees as follows:

(a) The State Superintendent of Education, Ex-officio.

(b) The State Comptroller, Ex-officio.

(c) The State Treasurer, Ex-officio.

(d) Two teachers who shall be members of the system and who shall be
elected by the members of the system for a term of four years according
to such rules and regulations as the Board of Trustees shall adopt to govern
such election, provided however, that the term of office of the first two
trustees so elected shall begin immediately following their election and
shall expire August 1, 1929, and August 1, 1931, respectively.

(3) If a vacancy occurs in the office of a trustee:, the vacancy shall be
filled for the unexpired term in the same manner as the office was pre-
viously filled.

(4) The trustees shall serve without compensation, but they shall be
reimbursed from the Expense Fund for all necessary expenses that they
may incur through service on the Board.

(5) Each trustee shall, within ten days after his appointment or elec-
tion, take an oath of office that, so far as it devolves upon him he will
diligently and honestly administer the affairs of the said Board, and that
he will not knowingly violate or willingly permit to be violated any of the
provisions of law applicable to the retirement system. Such oath shall be
subscribed to by the member making it, and certified by the officer before
whom it is taken, and immediately filed in the office of the Secretary of
State.