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. The Beneficiary shall have the right to apply to the Recordkeeper to amend the payment option as previously elected by the Participant.

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 Beneficiary, and accepted by the Recordkeeper.
2. (2) If the Participant dies without having a Beneficiary form on file or is not survived by the designated Beneficiary, the payments shall be made to the beneficiary designated by the Participant pursuant to Section 590:25-9-9.
3. (3) The Participant shall have the burden for executing and filing, with the Recordkeeper, a proper beneficiary designation form.
4. (4) If the Participant dies without having a Beneficiary form on file or is not survived by the designated Beneficiary under this Plan or the Deferred Compensation Plan, the payments shall be made to the properly appointed fiduciary of the Participant's probate estate. Provided that if a fiduciary has not been appointed by a Court within one hundred twenty (120) days after the death, the payment may be made to the first of the following:
5. (A) surviving spouse;
6. (B) surviving children in equal shares;
7. (C) surviving grandchildren in equal shares;
8. (D) surviving parents in equal shares;
9. (E) surviving siblings in equal shares.

Added at 15 Ok Reg 793, eff 11-12-97 (emergency)

Added at 15 Ok Reg 3282, eff 7-13-98

Amended at 36 Ok Reg 1948, eff 9-13-19

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