PURPOSE: This rule describes the benefits available to a Participant’s Beneficiary upon his or her death and the procedure for designating a beneficiary.

1. (1) Death Benefit. As soon as administratively feasible following the death of a Participant, the Participant’s Beneficiary shall receive a single-sum distribution of the Participant’s entire remaining Account balance.
2. (2) Beneficiary Designation. A Participant shall have the right to designate a Beneficiary, and amend or revoke such designation at any time, in writing. Such designation, amendment or revocation shall be effective upon receipt by the Board (or its designee).

3. (3) Failure to Designate a Beneficiary. If no designated Beneficiary survives the Participant (or if no Beneficiary designation has been received or approved by the Board) and benefits are payable following the Participant’s death, the Board shall direct that payment of benefits be made to—

   1. (A) The spouse of the Participant; or
   2. (B) The Participant’s estate.
4. (4) Direct Rollover. If the Participant’s Beneficiary is his or her spouse, the direct rollover provisions shall apply to a distribution in accordance with this rule.

AUTHORITY: section 50.1250, RSMo Supp. 1999.* Original rule filed May 9, 2000, effective Jan. 30, 2001. *Original authority: 50.1250, RSMo 1999.