Section 13-565. Retired employees; change of options  


Latest version.
  • a. A beneficiary shall
      be permitted to change an optional selection as provided in subdivisions
      b and c of this section.
        b. A change of optional selection may be made by a twenty-year pension
      plan retiree having a deferred payability date pursuant to  paragraph  d
      of  subdivision  four  of  section  13-545  of this chapter (relating to
      change of conditional elections by such retirees) and subdivision  c  of
      section  13-558 of this chapter (relating to change of elections by such
      retirees).
        c. If the survivor beneficiary nominated under option  two,  three  or
      four  of  section  13-558  of  this  chapter  is a spouse of the retired
      member, and such person by causes other than death ceases to be  his  or
      her  spouse  or  is  separated  from  him  or her, or if such option was
      selected in contemplation of marriage which has not  taken  place,  then
      the  board  of estimate shall have authority to permit the change of the
      optional benefit to the maximum benefit that is the actuarial equivalent
      by and with the consent of all parties.