1542                                    LAWS OF MARYLAND                                 Ch. 268

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.

117.

(12) (a) Instead of the disability or service
allowances payable under the aforesaid provisions, any
member, before the first retirement allowance payment
normally becomes due, may elect a retirement allowance of
equivalent actuarial value in one of the optional forms set
out in this subsection. The election of the option shall be
made on the form provided for that purpose and shall be
filed with the board of trustees. If a member dies prior to
the effective date of his retirement, the election shall be
void 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 his election by notifying the
board of trustees, but a change may not be made after the
first payment of his allowance normally becomes due.

Option 1. If a member 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 personal representative or to the person he has most
recently nominated by written designation acknowledged and
filed with the board of trustees.