Ch. 430                                     1993 LAWS OF MARYLAND

(G) (1) IN THIS SUBSECTION, "DESIGNATED BENEFICIARY" MEANS THE PERSON
THE RETIREE HAS NOMINATED BY A WRITTEN DESIGNATION THAT HAS BEEN DULY
ACKNOWLEDGED AND FILED WITH THE BOARD OF TRUSTEES.

(2) THE OPTIONS THAT A JUDGE OR FORMER JUDGE MAY ELECT UNDER
SUBSECTION (F) OF THIS SECTION ARE:

(I) OPTION 1. IF A RETIREE WHO HAS ELECTED THIS OPTION DIES
BEFORE RECEIVING IN PAYMENTS THE PRESENT VALUE OF THE RETIREE'S ALLOWANCE
AT THE TIME OF RETIREMENT, THE BALANCE SHALL BE PAID TO THE RETIREE'S
DESIGNATED BENEFICIARY OR, IF THERE IS NO DESIGNATED BENEFICIARY, TO THE
RETIREE'S ESTATE;

(II)     OPTION 2. UPON THE DEATH OF A RETIREE WHO HAS ELECTED
THIS OPTION, THE RETIREE'S REDUCED ALLOWANCE SHALL BE CONTINUED
THROUGHOUT THE LIFE OF AND PAID TO THE RETIREE'S DESIGNATED BENEFICIARY;

(III)    OPTION 3. ; UPON THE DEATH OF A RETIREE WHO HAS ELECTED
THIS OPTION, ONE-HALF OF THE REDUCED RETIREMENT ALLOWANCE SHALL BE
CONTINUED THROUGHOUT THE LIFE OF AND PAID TO THE RETIREE'S DESIGNATED
BENEFICIARY;

(IV)    1. OPTION 4. - GENERAL. IF A RETIREE WHO HAS ELECTED
THIS OPTION DIES BEFORE RECEIVING IN PAYMENTS THE VALUE OF THE RETIREE'S
ACCUMULATED CONTRIBUTIONS AT THE TIME OF RETIREMENT, THE BALANCE SHALL
BE PAID TO THE RETIREE'S DESIGNATED BENEFICIARY OR, IF THERE IS NO DESIGNATED
BENEFICIARY, TO THE RETIREE'S ESTATE;

2. OPTION 4. - SPECIAL. IF A RETIREE HAS ELECTED THIS
OPTION, SOME OTHER BENEFIT OR BENEFITS SHALL BE PAID EITHER TO THE RETIREE
OR ON THE DEATH OF THE RETIREE TO THE RETIREE'S DESIGNATED BENEFICIARY OR
BENEFICIARIES IF THE OTHER BENEFIT OR BENEFITS, TOGETHER WITH THE REDUCED
ALLOWANCE, ARE OF EQUIVALENT ACTUARIAL VALUE TO THE RETIREE'S ALLOWANCE,
AND ARE APPROVED BY THE BOARD OF TRUSTEES;

(V) OPTION 5. UPON THE DEATH OF A RETIREE WHO HAS ELECTED
THIS OPTION THE REDUCED ALLOWANCE SHALL BE CONTINUED THROUGHOUT THE
LIFE OF AND PAID TO THE RETIREE'S DESIGNATED BENEFICIARY. HOWEVER, IF THE
DESIGNATED BENEFICIARY PREDECEASES THE RETIREE, THEN FROM THE DATE OF
DEATH OF THE DESIGNATED BENEFICIARY, THE RETIREE SHALL RECEIVE THE
ALLOWANCE AS IF NO OPTIONAL FORM OF PAYMENT WAS ELECTED AT THE TIME OF
RETIREMENT; OR .                         

(VI) OPTION 6. UPON THE DEATH OF A RETIREE WHO HAS ELECTED
THIS OPTION ONE-HALF OF THE REDUCED ALLOWANCE SHALL BE CONTINUED
THROUGHOUT THE LIFE OF AND PAID TO THE RETIREE'S DESIGNATED BENEFICIARY.
HOWEVER, IF THE DESIGNATED BENEFICIARY PREDECEASES THE RETIREE, THEN FROM
THE DATE OF DEATH OF THE DESIGNATED BENEFICIARY, THE RETIREE SHALL RECEIVE
THE ALLOWANCE AS IF NO OPTIONAL FORM OF PAYMENT WAS ELECTED AT THE TIME
OF RETIREMENT.

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