38-844.07. Designation of deferred retirement option plan beneficiaries
A. A member who elects to participate in the deferred retirement option plan shall designate a beneficiary. A member's beneficiary designation applies to all distributions pursuant to the deferred retirement option plan.
B. If a designated beneficiary predeceases a deferred retirement option plan participant who dies before designating a new beneficiary, all distributions pursuant to the deferred retirement option plan shall be made to the estate of the deferred retirement option plan participant.
C. A member shall not make a beneficiary designation pursuant to this section that results in an abrogation of a member's community property obligations under the applicable laws of this state.
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