North Dakota Administrative Code › Title 71 - Retirement Board › Article 71-02 - Public Employees Retirement System › Chapter 71-02-05 - Disability › Section 71-02-05-07 - Optional benefits

Current through Supplement No. 393, July, 2024
For the main system and national guard /law enforcement
				  retirement plans, an individual deemed eligible for a disability benefit may
				  elect, as provided in this section, to receive one of the following optional
				  benefits in lieu of the regular disability benefit.
1.
One hundred percent joint and
				survivor benefit.
A member shall receive an actuarially reduced
				disability retirement benefit as long as the member remains eligible for
				benefits under subdivision e of subsection 3 of North Dakota Century Code
				section 54-52-17 and after the member's
				death the same amount will be continued to the member's surviving spouse during
				the spouse's lifetime. The designated beneficiary is limited to the member's
				spouse. Payments of benefits to a member's surviving spouse must be made on the
				first day of each month commencing on the first day of the month following the
				member's death, provided the beneficiary is still living and has supplied a
				marriage certificate and the member's death certificate. Benefits terminate in
				the month in which the death of the beneficiary occurs. In the event the
				designated beneficiary predeceases the member or, in the event of divorce, the
				option must be canceled and the member's benefit must be returned to the single
				life amount. Payment of the single life amount must commence on the first day
				of the month following the spouse's death providing written notification of
				death and a death certificate has been submitted or, in the event of divorce, a
				photocopy of the divorce decree.
2.
Fifty percent joint and survivor benefit.
A member shall receive
				an actuarially reduced disability retirement benefit as long as the member
				remains eligible for benefits under subdivision e of subsection 3 of North
				Dakota Century Code section
				54-52-17 and after the member's
				death one-half the rate of the reduced benefit will be continued to the
				member's surviving spouse during the spouse's lifetime. The designated
				beneficiary is limited to the member's spouse. Payments of benefits to a
				member's surviving spouse must be made on the first day of each month
				commencing on the first day of the month following the member's death,
				providing the beneficiary has supplied a marriage certificate and death
				certificate and is still living. Benefits terminate in the month in which the
				death of the beneficiary occurs. In the event the designated beneficiary
				predeceases the member or, in the event of divorce, the option must be canceled
				and the member's benefit must be returned to the single life amount. Payment of
				the single life amount must commence on the first day of the month following
				the spouse's death providing written notification of death and a death
				certificate has been submitted or, in the event of divorce, a photocopy of the
				divorce decree.
3.
Twenty-year or ten-year certain option.
A member may elect an
				option which is the actuarial equivalent of the member's normal, early, or
				deferred vested retirement pension payable for life with a twenty-year or
				ten-year certain feature, as designated by the member.
General Authority:
NDCC
					 54-52-04
Law Implemented:
NDCC
					 54-52-06.4,
					 54-52-17