19-3-1203. Election of optional death annuity. The designated beneficiary of a member may elect to have the lump-sum death payment paid in an actuarially equivalent form subject to the rules the board may adopt. Election of an optional death annuity must be by written application. The annuity payments are not subject to increases that may be granted to other monthly retirement benefits.

     History: En. 68-2303 by Sec. 44, Ch. 323, L. 1973; R.C.M. 1947, 68-2303; amd. Sec. 80, Ch. 265, L. 1993.