PURPOSE: This rule establishes parameters for the available statutory options to a normal annuity under section 104.395, RSMo.

1. (1) The only retirement payment options available in addition to the normal annuity are those established in section 104.395, RSMo. The election to take one (1) of those options must be made in the retirement application and the election is irrevocable, except as specifically provided in section 104.395, RSMo.
2. (2) With respect to Options 1 and 2 under section 104.395, RSMo, spouse means the spouse at the time the retirement application is filed. The election of Option 1 or 2 and the eligibility for survivor’s benefits are not affected by the subsequent dissolution of the marriage. The election of Option 1 or 2 is not affected by the subsequent death of either the member or the spouse, except if either the member or the spouse nominated to receive the survivorship payment dies before the effective date of retirement, the election shall not be effective.
3. (3) With respect to Options 3 and 4 under section 104.395, RSMo, the beneficiary or beneficiaries must be designated in the retirement application. The beneficiaries may be changed by a subsequent designation filed by the member. If no designated beneficiary survives the retirant, the remaining guaranteed payments will be made to the retirant’s estate. If a designated beneficiary survives the retirant but dies before all guaranteed payments have been made, the remaining payments which would have been payable to that beneficiary will be made to the beneficiary’s estate.

AUTHORITY: section 104.515, RSMo (Cum. Supp. 1992).* Original rule filed Dec. 20, 1993, effective July 10, 1994. *Original authority 1972, amended 1976, 1977, 1978, 1979, 1981, 1982, 1983, 1984, 1985, 1986, 1987, 1988, 1989, 1992.