(1) Election of options. Any member may at any time prior to retirement elect in writing one of the following options pursuant to which retirement benefits and survivorship benefits will be paid.

Option 1 - The retired member will receive retirement benefits in the form of an annuity for life. If the retired member dies before having received retirement benefits equal to the amount of the retired member’s total contributions, the balance of the member’s contributions will be paid to the member’s designated survivor as a survivorship benefit.

Option 2 - The retired member will receive an actuarially reduced retirement benefit in the form of an annuity for life. If the retired member predeceases the member’s designated survivor, a survivorship benefit which equals the member’s retirement benefit will be paid to the member’s designated survivor for the remainder of the survivor’s life. Option 2 benefits shall be calculated so that the present value of Option 2 shall equal the present value of Option 1.

Option 3 - The retired member will receive an actuarially reduced retirement benefit in the form of an annuity for life. If the retired member predeceases the member’s designated survivor, a survivorship benefit which equals one-half (½) of the member’s retirement benefit will be paid to the member’s designated survivor for the remainder of the survivor’s life. Option 3 benefits shall be calculated so that the present value of Option 3 shall equal the present value of Option 1.

Option 4 - With respect to a member of Plan D, Plan J or Plan X only, the retired member will receive retirement benefits in the form of an annuity for life. If the retired member elected this option or dies without having elected any option, one-half of the amount of the member’s retirement benefit, without reduction, shall be paid to the member’s surviving spouse, provided that they were married at least two (2) years before retirement or the date on which a separated member became eligible to apply for retirement benefits.

Upon the death of the surviving spouse, or if there is no surviving spouse who qualifies under the previous paragraph, the retirement benefit shall be paid to the dependent children, either natural or adopted, of the deceased member until each child attains age eighteen (18) or, if any such child remains dependent because of physical or mental infirmity, the duration of the infirmity. If there is no eligible child, the retirement benefit shall be paid to the dependent parent or parents of the deceased.

If there is no surviving spouse, dependent child or parent who qualifies, and the member dies before receiving retirement benefits equal to his or her member contributions, the balance shall be paid to the member’s beneficiary.

(2) Failure to choose option; members of plans not eligible for Option 4. If a member of Plan A, Plan B, Plan L, or Plan Y retires without electing a retirement benefit option among Option 1, Option 2 and Option 3, the member shall receive retirement benefits without actuarial reduction except for early retirement under § 22-303 (Optional Early Retirement Benefits). Upon the member’s death, subject to the provisions of subsection (3), no further benefits will be paid.

(3) Failure to designate survivor. When a member of Plan A, Plan B, Plan L, or Plan Y retires without designating any survivor and then dies, no further benefits will be paid; provided, however, that if such member is survived by a spouse to whom the member had been married two (2) years or more and with whom the member was living at the time of death, or with whom the member had one or more children who are under the age of eighteen (18) at the time of the member’s death, the member shall be deemed to have designated such spouse as the survivor under Option 1.

(4) Change of option. Until retirement, a member may revoke the election of any option under this section, and may elect any other option, except that only members of Plan D, Plan J or Plan X may elect Option 4. On retirement, subject to the provisions of § 22-702 (Designation of Survivors), the last election of any of the foregoing options shall be irrevocable.

(5) Effect of designating impermissible survivor. Survivors shall be designated in accordance with the provisions of § 22-702 (Designation of Survivors). If a member designates a survivor not within a permissible class, such designation shall be invalid and of no effect, and any survivor shall be determined in accordance with the provisions of § 22-702 (Designation of Survivors). With respect to a member who had elected Option 1, any amount payable upon the death of such member shall be paid to the member’s survivors, if any, in accordance with the provisions of § 22-702. With respect to a member who had elected Option 2 or Option 3, the additional amount that would have been paid to the member during the member’s lifetime, if the member had not elected Option 2 or Option 3, shall be paid to the member’s survivors, if any, in accordance with the provisions of § 22-702.