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 close of the calendar year quarter in which the death of a Participant occurs, the Participant’s Beneficiary shall receive a single-sum distribution of the Participant’s entire 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.

3. (3) Failure to Designate a Beneficiary. If no designated Beneficiary survives the Participant, or no Beneficiary has been designated by the Participant, and benefits are payable following the Participant’s death, the Board shall direct that payment of benefits be made to the person or persons in the first of the following classes of successive preference Beneficiaries:

   1. (A) The spouse of the Participant; and
   2. (B) The Participant’s estate.
4. (4) All death benefits paid in accordance with this rule 16 CSR 50-20.080 shall be made in accordance with the requirements of Code sections 457(d)(2) and 401(a)(9).

AUTHORITY: section 50.1300, RSMo Supp. 1999.* Original rule filed May 9, 2000, effective Jan. 30, 2001. *Original authority: 50.1300, RSMo 1999.