§ 18-32.1. Change of beneficiary.

If a member has elected an option with a beneficiary, the member shall be permitted to request a change of the designated beneficiary, but such change shall be deemed a new election and shall be subject to approval by the board of trustees. If a member has elected an option with a beneficiary and his or her retirement income benefits have commenced, he or she may thereafter change the designated beneficiary, but such change shall be deemed a new election and shall be subject to approval by the board of trustees. A request for any such change shall be made to the board of trustees on the form provided by the board of trustees. The consent of a member's beneficiary to any such change shall not be required. A change in beneficiary will result in a recalculation of the member's retirement benefit to account for the age of the new beneficiary which may result in an adjustment to the member's retirement benefit.

( Ord. No. 2556, § 1, 4-26-2017 )