WM. PRESTON LANE, JR., GOVERNOR. 849

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 bene-
fit 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 computed
as of the time of his retirement, the balance shall be paid to
such person, if any, having an insurable interest 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 allow-
ances shall be continued throughout the life of and paid to
such person having an insurable interest as he shall nomi-
nate 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 retire-
ment allowance shall be continued throughout the life of
and paid to such person having an insurable interest as he
shall nominate by written designation duly acknowledged
and filed with the Board of Trustees at the time of his re-
tirement.

51. (Administration. )

BOARD OF TRUSTEES

(1) The general administration and responsibility for the
proper operation 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 Budget Director, Ex-officio;

(b) The State Comptroller, Ex-officio;

(c) The Superintendent of State Police, Ex-officio;

(d) The State Treasurer, Ex-officio;

(e) One (1) member of the enforcement personnel of the
Department of State Police who shall be appointed for a
term of four (4) years by the Board of Public Works,