N.Y. Comp. Codes R. & Regs. tit. 2 § 345.8

Current through Register Vol. 46, No. 50, December 11, 2024

Section 345.8 - Designation of beneficiary

(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").

N.Y. Comp. Codes R. & Regs. Tit. 2 § 345.8