The Participant shall have the right to file with the Recordkeeper, a beneficiary or change of beneficiary form designating the person or persons who shall receive the benefits payable under the Plan in the event of the Participant's death. Following the death of the Participant, the beneficiary shall also have the right to file with the Recordkeeper, a beneficiary or change of beneficiary form designating the person or persons who shall receive the benefits payable under the Plan in the event of the beneficiary's death.

1. (1) The form for this purpose shall be provided by the Recordkeeper and will have no effect until it is signed, filed with the Recordkeeper by the Participant or the beneficiary, and accepted by the Recordkeeper.
2. (2) The Participant and the beneficiary shall have the burden for executing and filing, with the Recordkeeper, a proper beneficiary designation form.
3. (3) If the Participant or beneficiary dies without having a beneficiary form on file, the payments shall be made to the properly appointed fiduciary of the Participant's probate estate. If a fiduciary has not been appointed by a Court and qualified within one hundred twenty (120) days after the death, the payment may be paid to the first of the following:
4. (A) Participant’s estate;
5. (B) surviving spouse;
6. (C) surviving children in equal shares;
7. (D) surviving grandchildren in equal shares;
8. (E) surviving parents in equal shares; or
9. (F) surviving siblings in equal shares.

Amended at 20 Ok Reg 1753, eff 6-12-03

Amended at 36 Ok Reg 1947, eff 9-13-19

Amended at 42 Ok Reg, Number 20, effective 7-11-25