HARRY HUGHES, Governor

3191

(1)   If the member dies before receiving in
payments the present value of his or her retirement
allowance as it was at the time of retirement, the balance
shall be paid to his or her legal representatives or to such
person nominated by the member's written designation duly
acknowledged and filed with the board of trustees; or

(2)  Upon the member's death, the reduced
retirement allowance shall be continued throughout the life
of and paid to such person nominated by written designation
duly acknowledged and filed with the board of trustees at
the time of retirement; or

(3)  Upon the member's death, one half of the
reduced retirement allowance shall be continued throughout
the life of and paid to such person nominated by the
member's written designation duly acknowledged and filed
with the board of trustees at the time of retirement; or

(4)   Some other benefit or benefits shall be paid
either to the member or to such person or persons nominated,
if those other benefit or benefits, together with the
reduced retirement allowance, are certified by the actuary
to be of equivalent actuarial value to the retirement
allowance, and are approved by the board of trustees.

(5)  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.

SECTION 4. AND BE IT FURTHER ENACTED, That the
provisions of this Act are intended solely to correct
technical errors in the law and that there is no intent to
revise or otherwise affect law that is the subject of other
Acts, whether those Acts were signed by the Governor prior
to or after the signing of this Act.

SECTION 5. AND BE IT FURTHER ENACTED, That this Act
shall take effect July 1, 1982.

Approved June 1, 1982.

CHAPTER 509
(Senate Bill 275)
AN ACT concerning