Ch. 571                                       LAWS OF MARYLAND

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.

Option 2. When a member dies, his reduced retirement
allowance shall be continued throughout the life of and paid to
the person he has nominated by written designation, acknowledged
and filed with the board of trustees at the time of his
retirement.

Option 3. When a member dies, one half of his reduced
retirement allowance shall be continued throughout the life of
and paid to the person he has nominated by written designation,
acknowledged and filed with the board of trustees at the time of
his retirement.

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
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, if the other benefit or benefits together with the
reduced retirement allowance:

1.  Are certified by the actuary to be of
equivalent actuarial value to his retirement allowance; and

2.  Approved by the board of trustees.

OPTION 5. UPON THE BENEFICIARY'S DEATH, THE REDUCED
RETIREMENT ALLOWANCE SHALL BE CONTINUED THROUGHOUT THE LIFE OF
AND PAID TO THE PERSON THE BENEFICIARY NOMINATED BY WRITTEN
DESIGNATION, DULY ACKNOWLEDGED AND FILED WITH THE BOARD OF
TRUSTEES AT THE TIME OF THE RETIREMENT. HOWEVER, IF THE PERSON
SO DESIGNATED PREDECEASES THE BENEFICIARY, THEN FROM THE DATE OF
DEATH OF THAT DESIGNATED PERSON, THE BENEFICIARY SHALL RECEIVE
THE ALLOWANCE AS IF NO OPTIONAL FORM OF PAYMENT WAS ELECTED AT
THE TIME OF RETIREMENT.

OPTION 6. UPON THE BENEFICIARY'S DEATH, ONE HALF OF THE
REDUCED ALLOWANCE SHALL BE CONTINUED THROUGHOUT THE LIFE OF AND
PAID TO THE PERSON THE BENEFICIARY NOMINATED BY WRITTEN
DESIGNATION, DULY ACKNOWLEDGED AND FILED WITH THE BOARD OF
TRUSTEES AT THE TIME OF THE RETIREMENT. HOWEVER, IF THE PERSON
SO DESIGNATED PREDECEASES THE BENEFICIARY, THEN FROM THE DATE OF

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