New York Codes Rules Regulations (Last Updated: March 27,2024) |
TITLE 2. Department of Audit and Control |
Chapter VI. New York State and Local Employees' Retirement System and New York State and Local Police and Fire Retirement System |
Part 345. Additional Options Upon Retirement for Tier 1 and 2 Members of the New York State and Local Retirement Systems |
Sec. 345.8. Designation of beneficiary
Latest version.
- (a) A beneficiary maybe designated in accordance with the provisions of sections 90 and 390 of the Retirement and Social Security Law. Each such designation shall be:(1) made in writing on a blank provided by the Comptroller for such a purpose; and(2) ineffective until it is filed in the office of the Comptroller.(b) A member electing the five-year certain option or the ten-year certain option may designate a primary beneficiary, or a primary beneficiary with a contingent beneficiary. A member may not designate multiple primary beneficiaries for the benefits payable under these options unless the designation provides for the benefits to be distributed to such primary beneficiaries on a per capita basis (“share and share alike of those surviving”).