The designated beneficiary of an in-service member who qualified for service retirementand had ten (10) years or more of creditable service may elect to receive, in lieu of the return of contributions and the $18,000 death benefit, the retirement benefit to which the deceased member would have been entitled at the time of death under the Option 2 retirement plan. To qualify for this option, the designated beneficiary must have been named as the sole beneficiary at the time of the member's death (see OAC 715:10-15-1 and 10-15-2 and 70 O.S. §17-105(11)). This option is only available when the beneficiary is the member's spouse, another person, or the beneficiary of a Discretionary and Special Needs Trust, provided if the designated beneficiary is not the member's spouse, IRS Regulations require that the adjusted member/beneficiary age difference cannot be more than ten (10) years. [See OAC 715:10-15-10, to determine the adjusted member/beneficiary age difference]. [See also OAC 715:10-9-7, if the member and beneficiary were divorced before death].

<i>¹This emergency action expired before being superseded by a permanent action. Upon expiration of an emergency amendatory action, the last effective permanent text is reinstated. Therefore, on 7-15-99 (after the 7-14-99 expiration of the emergency action), the text of section 715:10-9-3 reverted back to the permanent text that was effective prior to enactment of the emergency action on 10-5-98, as last published in the 1996 Edition of the OAC, and remained as such until amended again by emergency action on 9-8-99 and by permanent action on 9-13-99.</i>

Amended at 16 Ok Reg 743, eff 10-5-98 through 7-14-99 (emergency)¹

Amended at 17 Ok Reg 204, eff 9-8-99 (emergency)

Amended at 16 Ok Reg 3567, eff 9-13-99

Amended at 17 Ok Reg 3071, eff 7-13-00

Amended at 29 Ok Reg 854, eff 8-1-12

Amended at 37 Ok Reg 37, eff 9-3-19 (emergency)

Amended at 37 Ok Reg 2248, eff 9-11-20

Amended at 40 Ok Reg 1293, eff 9-11-23

<div>Amended at 42 Ok Reg, Number 5, effective 10-15-24 (emergency)¹</div>

<div>¹<em>This emergency action expired before being superseded by a permanent action. Upon expiration of an emergency amendatory action, the last effective permanent text is reinstated. Therefore, on 9-15-25 (after the 9-14-25 expiration of the emergency action), the text of section 715:10-9-3 reverted back to the permanent text that became effective 9-11-23.</em></div>