(a) Generally. A participant may designate a primary beneficiary and a contingent beneficiary, and may change a designation of beneficiary.
(b) Form to be filed with Personnel Officer. A designation or change of designation of beneficiary shall be filed with the Personnel Officer on a form required by the Personnel Officer and take effect as of the date of execution of the form whether or not the participant is living at the time of the filing.
(c) Benefits paid to most recent beneficiary on file. In case of death, benefits payable under this article to a beneficiary shall be paid to the beneficiary most recently designated by the participant and on file with the Personnel Officer.
(d) Pension fund released from liability. If payment is made to a beneficiary in accordance with the most recent form on file with the Personnel Officer, the pension fund is released from liability for the payments made.
(e) No beneficiary designated. If there is no beneficiary designated by a participant, the beneficiary is the participant's estate.
(1985 Code, Art. 7, § 1-407) (Bill No. 90-01)