Current through Register Vol. 54, No. 21, May 25, 2024
Section 247.5a - Re-election of benefit option(a) A member who has filed an application for benefits and who has designated a survivor annuitant has the right to re-elect a benefit option and to nominate a beneficiary or a new survivor annuitant if, after filing the application, the designated survivor annuitant predeceases the member, the member is awarded a divorce or the member becomes married, provided the member files a timely application for option change with the Board.(b) The member's right to re-elect a benefit option remains valid for 7 years from the date of the death, divorce or marriage that triggered the right or until the occurrence of a subsequent triggering event, whichever occurs first. Upon the occurrence of a subsequent triggering event, a superseding right to re-elect shall begin.(c) Upon the member's timely filing of an application for option change, the member's annuity will be recomputed to be actuarially equivalent to the annuity in effect immediately prior to the recomputation.The provisions of this § 247.5a adopted August 19, 2016, effective 8/20/2016, 46 Pa.B. 5082.