§ 702. Conditions relative to optional benefits.

A.

Election Deadline. To become effective, an election of any optional form of retirement income must be made formally and in writing prior to start of payment of such retirement income. A Participant may elect an optional form of retirement income or change the contingent annuitant at any time prior to start of payment.

B.

Spouse Consent. If a Participant is married at the time benefits commence, the Participant's election of a partial lump sum payment or a form of retirement income other than a joint and survivor income payable to the Participant and spouse shall not be effective unless the spouse consents in writing to the partial lump sum, to the form of retirement income and to the contingent annuitant or beneficiary the Participant elects for that form of retirement income. The spouse's written consent must acknowledge the effect of the election and must be witnessed by a Plan representative or a notary public. The spouse's written consent shall not be required if it is established to the satisfaction of a Plan representative that there is no spouse or the spouse cannot be located. Any consent by a spouse obtained under this provision shall be effective only with respect to such spouse.

C.

Contingent Annuitant Designation. To elect a joint and survivor annuity or to change the designation of a contingent annuitant, the Participant shall designate the contingent annuitant on a form provided for that purpose and shall furnish to the Board of Trustees within six (6) months thereafter, but not later than the date of start of payment, proof satisfactory to the Board of Trustees of the age of the contingent annuitant.

D.

Change in Election. The election of an optional form of retirement income shall become irrevocable upon commencement of payment from the Plan.

E.

Death. If a Participant shall have elected an optional form of retirement income; and

1.

If the contingent annuitant shall die and the Participant shall notify the Plan Administrator of the death before the start of Participant's retirement income payments, the election shall be void;

2.

Except as provided in paragraph 701.A.3 hereof, if the Participant shall die before the start of the Participant's retirement income payments, the election shall be void and the contingent annuitant shall not be entitled to an income under such option; or

3.

If the contingent annuitant shall die after commencement of an optional form of retirement income but before the death of the retired Participant, such Participant shall continue to receive the income payable to that Participant in accordance with such election.

(Ord. Nos. 17300, 17981, 19730, 20908)