Unless a generational member's required beginning date for retirement occurs first, the retirement benefit of a generational member is effective in accordance with whichever of the following is last: (1) The first day of the month following the date on which the member's contributory service terminated; (2) The first day of the month following an intervening complete calendar month after the date on which the member's written application for retirement benefits is received by the system; or (3) The first day of the month specified in the member's application for retirement. The last payment of the member's benefit is for the month in which the member's death occurs.
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