§ 36-10-19 - Persons eligible for optional benefits – Time of election – Modification or revocation – Effective date. - Rhode Island Statutes

SECTION 36-10-19

   § 36-10-19  Persons eligible for optionalbenefits – Time of election – Modification or revocation –Effective date. – The optional provisions of § 36-10-18 shall be applicable only to a memberapplying for a service retirement allowance, an accidental disabilityretirement allowance, and an ordinary disability retirement allowance or anyinactive member applying for retirement under vested rights. The election underoption 1 or 2 of § 36-10-18(a) shall be made at the time of retirement ofthe member as part of his or her application for a retirement allowance. Theelection shall be based upon the amount of retirement allowances that mayaccrue at the date of death of the member and may be revoked or modified by themember at any time after retirement on a form prescribed by the retirementboard, provided that, during this time, the named beneficiary has not beendivorced from the member. The option, in the case of death of a retired member,shall become effective on the next day following the death of the member andpayment of benefits thereunder shall be made in accordance with the provisionshereof, subject to the limitations prescribed in § 36-10-18. This sectionshall not apply to any one who elects the social security supplemental optionas provided by § 36-10-10.3.