The participant, beneficiary, or spouse shall make any election under this section in writing. The Plan Administrator may require such individual to complete and sign any necessary documents as to the provisions to be made. Any election permitted under divisions (A) and (B) below shall be subject to the election provisions of division (C) below.
(A) Retirement benefits. A participant may elect his beneficiary or contingent annuitant and may elect to have retirement benefits distributed under any of the optional forms of retirement benefit available in § 38.052.
(B) Death benefits.
(1) An active participant may waive the preretirement survivor annuity by electing not to have the provisions of § 38.040(A)(1) and (2) continue to apply on and after his normal retirement date. If such participant makes this election and dies on or after his normal retirement date, the preservation of retirement option death benefit shall be paid as if he had not been survived by a spouse or domestic partner.
(2) A participant may elect his beneficiary for any single sum death benefits and may elect to have such death benefits distributed under any of the optional forms of death benefit available in § 38.052.
(3) If the participant has not elected an optional form of distribution for the death benefit payable to his beneficiary, the beneficiary may, for his own benefit, elect the form of distribution, in like manner as a participant.
(4) The participant may waive the preretirement survivor annuity by electing not to have the single sum death benefit used to provide a minimum preretirement survivor annuity as described in § 38.040. If the participant makes this election, the single sum death benefit shall be paid as if the requirements of § 38.040(A)(1) had not been met.
(5) The spouse or domestic partner may waive the preretirement survivor annuity by electing not to have the single sum death benefit used to provide a minimum preretirement survivor annuity as described in § 38.040. If the spouse or domestic partner makes this election, the single sum death benefit shall be paid as if the requirements of § 38.040(A)(1) had not been met and the participant had named his spouse or domestic partner as beneficiary.
(C) Election. The participant, beneficiary, spouse or domestic partner may make an election at any time during the election period. The participant, beneficiary, spouse or domestic partner may revoke the election made (or make a new election) at any time and any number of times during the election period.
(1) Election period for retirement benefits. A participant may make an election as to retirement benefits at any time before the annuity starting date.
(2) Election period for death benefits. A participant may make an election as to death benefits at any time before he dies. The spouse's election period begins on the date the participant dies and ends on the date benefits begin. The beneficiary's election period begins on the date the participant dies and ends on the date benefits begin. If an active participant has a spouse or domestic partner who is entitled to a preretirement survivor annuity his election period as to the preservation of retirement option death benefit begins 90 days before the first day of the Plan year in which such participant reaches his normal retirement date. (Ord. 1806, passed 1-7-15)