§ 2-48. Beneficiaries.

(a)

The firefighter electing any option will designate the joint pensioner or beneficiary (or beneficiaries) to receive the benefit, if any, payable under the plan in the event of his or her death, and will have the power to change such designation from time to time, but any such change shall be deemed a new election and will be subject to approval by the board of trustees. Such designation will name a joint pensioner or one or more primary beneficiaries where applicable. If a firefighter has elected an option with a joint pensioner or beneficiary and his or her retirement income benefits have commenced, the firefighter may change the designated joint pensioner or beneficiary, but only if the board of trustees consents to such change and if the joint pensioner previously designated by the firefighter is alive when the firefighter files with the board of trustees a request for such change.

(b)

The consent of a firefighter's joint pensioner or beneficiary to any such change shall not be required.

(c)

The board of trustees may request such evidence of good health of the joint pensioner or beneficiary that is being removed as it may require and the amount of the retirement income payable to the firefighter upon designation of a new joint pensioner or beneficiary shall be actuarially redetermined taking into account the age and sex of the former joint pensioner, the new joint pensioner, and the firefighter. Each such designation will be made in writing on a form prepared by the board of trustees and on completion will be filed with the board of trustees. In the event that no designated beneficiary survives the firefighter, such benefits as are payable in the event of the death of the firefighter subsequent to his or her retirement shall be paid to the estate.

(d)

Retirement income payments shall be made under the option elected in accordance with the provisions of this section and shall be subject to the following limitations:

(1)

If a firefighter dies prior to his or her normal retirement date or early retirement date, whichever first occurs, no retirement benefit will be payable under the option to any person, but the benefits, if any, will be determined under section 2-45.

(2)

If the designated beneficiary or beneficiaries or joint pensioner dies before the firefighters retirement under the plan, the option elected will be canceled automatically and a retirement income of the normal form and amount will be payable to the firefighter upon retirement as if the election had not been made, unless a new election is made in accordance with the provisions of this section or a new beneficiary is designated by the firefighter prior to retirement and within ninety (90) days after the death of the beneficiary.

(3)

If both the retired firefighter and the beneficiary or beneficiaries designated by him or her die before the full payment has been effected under any option providing for payments for a period certain and life thereafter, made pursuant to the provisions of section 2-47, the board of trustees may, in its discretion, direct that the commuted value of the remaining payments be paid in a lump sum.

(4)

No firefighter may make any change to his or her retirement option after the date of cashing or depositing the first retirement check, except as provided herein.

(Ord. No. 00O-6-33, § 1, 6-26-00)