5402

COUNTY LOCAL LAWS

appropriate form at least two months before normal, early
or disability retirement date. The pension payment
option will be effective on the member's retirement date
and will be void if the member or the named beneficiary
dies before that date. The following forms of pension
options are available:

(1)   Normal form of retirement pension — ten
years certain and life thereafter. The member will be
paid a monthly income until death, with payments
continued to the designated beneficiary (spouse or
children only) until a total of one hundred and twenty
monthly payments have been made. If the designated
beneficiary dies before the end of the ten year certain
period, payments will be made to the contingent
beneficiary (Spouse or children only). If the designated
beneficiary and contingent beneficiary pre—decease the
retiree, the estate shall be paid the amount of money
representing the member's contributions plus interest
that had not already been paid to the retiree.

(2)    Cash refund pension option. (available
to members who were members of the Employees' Retirement
System of the State of Maryland on August 15, 1965) If a
member dies before the total pension payments made or due
equal the present value of the pension determined on the
member's retirement date, the difference will be paid to
the member's beneficiary (spouse or children only).

(3)   Joint and survivor pension option. On or
after May 1, 1970, pension payments in a reduced amount
may be paid during the member's lifetime and, if at a
member's death, the designated beneficiary (spouse or
children only) survives, pension payments in the amount
payable to the member or other amount elected but not
less than ten percent of the amount payable to the member
will be paid for the balance of the beneficiary's
lifetime.

(4)    Modified cash refund annuity. Increased
lifetime pension payments over normal form will be
payable to the member. If a member dies before receiving
benefits in an amount equal to member contributions with
interest, the difference will be payable to the
designated beneficiary.

(b) Voluntary adjustment of pension payment by a
member who retires before qualifying to receive Social
Security benefits. A member may elect to receive an
actuarial equivalent benefit of larger pension payments
until normal Social Security payments commence, and
smaller payments thereafter, thus providing a uniform
total income from both sources. If the member dies
before the total payments made or due equal the present