Failure to Name the Beneficiary

Failure to Name the Beneficiary. Failure to name the Beneficiary within the time frame specified in Rule 20.3 will result in a Cancellation of the MPACT Contract, and the monies will be refunded from the Trust Fund including but not limited to the amount paid in and an additional amount in the nature of interest at a rate that corresponds to the prevailing interest rates for savings accounts provided by banks and savings and loan associations and the Board may impose reasonable charges for such refund.