Ch. 604                                    LAWS OF MARYLAND

CONTRIBUTIONS AS IT WAS AT THE TIME OF RETIREMENT, THE BALANCE
SHALL BE PAID TO THE MEMBER'S LEGAL REPRESENTATIVES OR TO THE
PERSON OR PERSONS THE MEMBER MOST RECENTLY NOMINATED BY WRITTEN
DESIGNATION, DULY ACKNOWLEDGED AND FILED WITH THE BOARD OF
TRUSTEES; OR

(II) Some other benefit or benefits shall be paid
either to the member or to the person or persons he has
nominated, provided the 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.

86.

(8) (a) In lieu of the disability or service allowances
payable under the aforesaid provisions, any member may, prior to
the first retirement allowance payment normally due, elect a
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. Should a member die 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 his 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 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. (I) IF THE RETIRED MEMBER DIES BEFORE THE MEMBER
HAS RECEIVED IN PAYMENTS THE VALUE OF THE MEMBER'S ACCUMULATED
CONTRIBUTIONS AS IT WAS AT THE TIME OF RETIREMENT, THE BALANCE
SHALL BE PAID TO THE MEMBER'S LEGAL REPRESENTATIVES OR TO THE
PERSON OR PERSONS THE MEMBER MOST RECENTLY NOMINATED BY WRITTEN

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