§ 610. Options. a. Until the effective date of retirement a member may\nelect to receive the actuarial equivalent of the retirement allowance at\nthe time of retirement, in the form of a smaller retirement allowance\npayable to such member for life and one of the following optional\nsettlements;\n Option one. Upon the member's death, a retirement allowance in an\namount equal to that paid to the member shall be paid for life to such\nperson as he shall nominate by written designation duly acknowledged and\nfiled with the retirement system at the time of retirement.\n Option two. Upon the member's death, a retirement allowance of\nseventy-five percent or less (measured in increments of twenty-five\npercent) of the amount paid to such member shall be paid for life to\nsuch person as he shall nominate by written designation duly\nacknowledged and filed with the retirement system at the time of\nretirement.\n Option three. A five-year certain option under which payment is made\nto the member for life but is guaranteed for a minimum of five years\nfollowing retirement. Such payments shall continue to a person as he\nshall nominate by written designation, duly acknowledged and filed with\nthe retirement system, for the unexpired balance of the five-year\nguaranteed period. If said beneficiary should predecease him, the\ncommuted value of any installments due during the unexpired balance of\nthe five-year guaranteed period shall be paid in a single sum to a duly\ndesignated contingent beneficiary or if none exists to the legal\nrepresentative of the member. Should a beneficiary who has commenced\nreceipt of the payments die before the said guaranteed minimum period,\nthe commuted value of any installments due during the unexpired balance\nof the five-year guaranteed period shall be paid in a single sum to a\nduly designated contingent beneficiary or if none exists, to the legal\nrepresentative of said deceased primary beneficiary.\n Option four. A ten-year certain option under which payment is made to\nthe member for life but is guaranteed for a minimum of ten years\nfollowing retirement. Such payments shall continue to a person as he\nshall nominate by written designation, duly acknowledged and filed with\nthe retirement system, for the unexpired balance of the ten-year\nguaranteed period. If said beneficiary should predecease him, the\ncommuted value of any installments due during the unexpired balance of\nthe ten-year guaranteed period shall be paid in a single sum to a duly\ndesignated contingent beneficiary or if none exists to the legal\nrepresentative of the member. Should a beneficiary who has commenced\nreceipt of the payments die before the said guaranteed minimum period,\nthe commuted value of any installments due during the unexpired balance\nof the ten-year guaranteed period shall be paid in a single sum to a\nduly designated contingent beneficiary or if none exists to the legal\nrepresentative of said deceased primary beneficiary.\n Option five. Upon the member's death, a retirement allowance in an\namount equal to fifty percent or one hundred percent of that paid to the\nmember shall be paid for life to such person as he shall nominate by\nwritten designation duly acknowledged and filed with the retirement\nsystem at the time of retirement. Upon the death, prior to the death of\nthe member, of said person so nominated, the member shall begin\nreceiving, in lieu of the allowance then payable, an allowance equal in\namount to that which would have been payable if no optional modification\nof the retirement allowance were in effect.\n a-1. A member of the New York state teachers' retirement system or the\nNew York state and local employees' retirement system who retires\npursuant to the provisions of this article, may elect, in lieu of the\noptions set forth in subdivision a of this section, the following\noptional settlement:\n Alternative Option. The actuarial equivalent of the member's\nretirement allowance at t
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