3190                                      LAWS OF MARYLAND                                    Ch. 508

shall have completed 25 years of creditable service[, and
notwithstanding that during the period of notification the
member may have separated from service]. The physician of
the Department must have attained the age of 65 in order to
retire.

(8) (a) Upon the receipt of proper proofs of the death
of a member in service there shall be paid to the member's
estate or to any person having an insurable interest in the
life of the deceased, that he has nominated by written
designation duly executed and filed with the board of
trustees:

(i) The member's accumulated
contributions; and

(ii) If the member has one through two
years of creditable service, an amount equal to his or her
annual earnable compensation at the time of death.

(b) The board of trustees may take the steps
necessary to provide the death benefit under this subsection
in the form of group life insurance, if, in the opinion of
the board of trustees, that provision would allow a more
favorable tax treatment of the benefit to the beneficiaries
thereof.

No ordinary death benefit shall be paid for the death
of any member if a special death benefit is paid for the
same.

[(c) A retired member may elect to change his or
her beneficiary, in which event, the allowance for a
subsequent election shall be computed on the value of the
balance in his or her reserves at the time the change in
beneficiary is made.]

(11) In lieu of the disability or service allowances
payable under the aforesaid provisions, a member who at the
time of retirement does not have a spouse who would be
entitled to a benefit under § 53(2)[(c)] (B) or § 53(4)(c)
or § 53(6)(c) may, prior to the first retirement allowance
payment normally due, elect a reduced 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. If a member dies 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 the election had not been filed. 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 the allowance becomes
normally due.