Okla. Admin. Code § 590:40-11-7

Current through Vol. 42, No. 8, January 2, 2025

Section 590:40-11-7 - Death of Participant or alternate payee

(a)Death of Participant. If the Participant predeceases the alternate payee, the Participant's death shall not affect the alternate payee's right to the portion of benefits as set forth in the order.

(b)Death of alternate payee. In the event of the alternate payee's death prior to receiving the full amount of benefits assigned under the order and under the benefit option chosen by the alternate payee, the alternate payee's beneficiaries, as designated on the appropriate form, shall receive the remainder of any unpaid benefits under the terms of the order. In the absence of a beneficiary designation, the unpaid benefits shall be paid the alternate payee's estate. If there is no estate, the distribution of benefits may be made to the first of the following:

(1) surviving spouse;

(2) surviving children in equal shares;

(3) surviving parents in equal shares;

(4) surviving siblings in equal shares.

Okla. Admin. Code § 590:40-11-7

Adopted by Oklahoma Register, Volume 32, Issue 24, September 1, 2015, eff. 9/11/2015