Okla. Admin. Code § 590:40-5-21

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

Section 590:40-5-21 - Death without beneficiary

(a)Participant. If a Participant dies without filing a beneficiary form with OPERS or is not survived by a designated Beneficiary under either the 401(a) plan or the 457(b) plan, the distribution of remaining benefits shall be made to the properly appointed administrator, executor, personal representative, or other fiduciary of the estate of the Participant. If there is no estate, or if no administrator, executor, personal representative, or other fiduciary of estate of the Participant has been appointed and qualified within one hundred twenty (120) days after death, the distribution of benefits may be made to first of the following:

(1) surviving spouse;

(2) surviving children in equal shares;

(3) surviving parents in equal shares; or

(4) surviving siblings in equal shares.

(b)Surviving Beneficiary. If, after the death of the Participant, a Beneficiary dies without having a beneficiary form on file or is not survived by a designated Beneficiary, the distribution of remaining benefits shall be made to the properly appointed administrator, executor, personal representative, or other fiduciary of the estate of the Beneficiary. If there is no estate of the Beneficiary, the distribution of the Beneficiary's benefits shall be in the same manner as the distribution of the Participant's benefits as set forth in (a) of this Section.

Okla. Admin. Code § 590:40-5-21

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