20 NCAC 02B .0307. CHANGE IN BENEFICIARY

Prior to retirement, the member may, at any time, change any beneficiaries designated for the return of accumulated contributions under the provisions of G.S. 135-5(f) or the death benefit for active members under the provisions of G.S. 135-5(l). A retired member may, at any time, change any beneficiaries designated for: (1) The guaranteed refund under the provisions of G.S. 135-5(g1) until such time as the funds have been depleted; (2) The death benefit for active members under the provisions of G.S. 135-5(l) provided the change is submitted within 180 calendar days after the member's last day of active service; or (3) The death benefit for retired members under the provisions of G.S. 135-5(l). The member shall submit any such change to the Board of Trustees using the form approved by the Board of Trustees for designation of the beneficiary for that purpose.