Oregon Administrative Rules › Chapter 177 - OREGON STATE LOTTERY › Division 98 - MEGA MILLIONS® › Section 177-098-0060 - Prize Payment

Current through Register Vol. 63, No. 7, July 1, 2024
(1)
Selection of Payment Type:
Jackpot Prizes shall be paid, at the election of the player made no later than
			 60 days after validation of the prize, with either a per winner annuity or
			 single lump sum payment. If the payment election is not made by the player
			 within 60 days after validation, then the prize shall be paid as an annuity
			 prize. The election to take the single lump sum payment may be made at the time
			 of validation of the prize claim or within 60 days thereafter. An election made
			 after validation is final and cannot be revoked, withdrawn or otherwise
			 changed.
(2)
Share of the
			 Jackpot Prize:
Shares of the Jackpot Prize shall be determined by
			 dividing the amount available in the Grand Prize Pool equally among all tickets
			 with winning game plays of the Jackpot Prize in all participating lotteries.
			 The prize money allocated from the current Mega Millions Grand Prize Pool for
			 the Jackpot Prize, plus any previous portions of prize money allocated to the
			 Jackpot Prize category in which no matching tickets were sold will be divided
			 equally among all Jackpot Prize winning tickets in all participating
			 lotteries.
(3)
Lump Sum
			 Payment:
Jackpot Prize winner(s) who elect a lump sum payment (cash
			 value option) shall be paid their share(s) in a single lump sum payment. The
			 lump sum payment amount shall be determined by the Mega Millions lotteries. The
			 lump sum payment shall be paid upon completion of all internal validation
			 procedures. Prize payments may be rounded down to the nearest $1,000.
(4)
Initial and Annual Annuitized
			 Payments:
All annuitized prizes shall be paid in graduated annual
			 payments. The annuity option Jackpot Prize amount will be paid in thirty
			 graduated annual installments. The initial payment shall be paid upon
			 completion of all internal validation procedures. The subsequent twenty-nine
			 payments shall be paid graduated annually to coincide with the month of the
			 Federal auction date at which the bonds were purchased to fund the annuity,
			 with graduated annual installments defined in the Mega Millions Lotteries'
			 Finance and Operations Procedures. Payments shall escalate by a factor of five
			 percent annually, and annual payments shall be rounded down to the nearest even
			 one thousand dollar increment. All such payments shall be made within seven
			 days of the anniversary of the annual auction date.
(5)
Jackpot Prizes and Increases:
The Mega Millions lotteries may set a minimum guaranteed annuity Jackpot Prize
			 amount, which shall be advertised by the selling lotteries as the starting
			 guaranteed annuity Jackpot Prize amount.
(6)
Roll Over of Jackpot Prize:
If in any Mega Millions drawing there are no Mega Millions plays which qualify
			 for the Jackpot Prize category, the portion of the prize fund allocated to such
			 Jackpot Prize category shall remain in the Jackpot Prize category and be added
			 to the amount allocated for the Jackpot Prize category in the next consecutive
			 Mega Millions drawing.
(7)
Funding the Annuity:
Funds
			 for the initial payment of an annuitized prize or the lump sum prize shall be
			 made available by MUSL for payment by the Party Lottery on a schedule approved
			 by the Product Group. If individual shares of the Grand Prize pool funds held
			 to fund an annuity is less than $250,000, the Product Group, in its sole
			 discretion, may elect to pay the winners their share of the held in the Grand
			 Prize Pool. Neither MUSL nor the party lotteries shall be responsible or liable
			 for changes in the advertised or estimated annuity prize amount and the actual
			 amount purchased after the prize payment method is actually known to
			 MUSL.
(8)
Lack of Available
			 Funds:
If necessary, when the due date for the payment of a prize occurs
			 before the receipt of funds in the prize pool trust sufficient to pay the
			 prize, the transfer of funds for the payment of the full lump sum cash amount
			 may be delayed pending receipt of funds from the Party Lotteries or other
			 lotteries participating in the Mega Millions Game. A Party Lottery may elect to
			 make the initial payment from its own funds after validation, with notice to
			 MUSL.
(9)
Death of
			 Winner:
In the event of the death of a lottery winner during the annuity
			 payment period, unless prohibited by state law, the MUSL Finance & Audit
			 Committee, in its sole discretion excepting a discretionary review by the
			 Product Group, upon the petition of the estate of the lottery winner (the
			 "Estate") or the persons identified on the winner's Beneficiary Designation
			 form (BDF), whichever is applicable, to the state lottery of the state in which
			 the deceased lottery winner purchased the winning ticket, and subject to
			 applicable federal, state, or district laws, may make payment to the Estate or
			 the designated beneficiary of the discounted present value of the remaining
			 annuitized prize payments. If such a determination is made, then securities
			 and/or amounts held to fund the deceased lottery winner's annuitized prize may
			 be distributed to the Estate or the persons on the BDF. The identification of
			 the securities to fund the annuitized prize is at the sole discretion of the
			 Finance & Audit Committee or the Product Group.
(10)
No Recourse:
If a party
			 lottery purchases or holds the prize payment annuity for a prize won in that
			 jurisdiction, that party lottery's game rules, and any prize payment agreement
			 with the prize winner, shall indicate that the prize winner has no recourse on
			 MUSL or any other party lottery for payment of that prize.
(11)
Prize Payments:
All prizes
			 are paid through the Lottery that sold the winning ticket(s), and at the
			 discretion of the Selling Lottery may be paid by cash, check, warrant, or
			 electronic transfer. The Lottery may begin paying low-tier prizes after
			 receiving authorization to pay from the MUSL central office.
(12)
Rounding of Prize Payments:
Annuitized payments of the Jackpot Prize or a share of the Jackpot Prize may be
			 rounded to facilitate the purchase of an appropriate funding mechanism.
			 Breakage on an annuitized Jackpot Prize win shall be added to the first payment
			 to the winner or winners. Prizes other than the Jackpot Prize which, under
			 these rules, may become single-payment, pari-mutuel prizes, may be rounded down
			 so that prizes can be paid in multiples of whole dollars. Breakage resulting
			 from rounding these prizes shall be carried forward to the prize pool for the
			 next drawing.
(13)
One Prize
			 per Game Play:
The holder of a winning ticket may win only one prize per
			 game play in connection with the winning numbers drawn, and shall be entitled
			 only to the prize won by those numbers in the highest matching prize category.
			 All liability for a Mega Millions® prize is discharged upon payment of a
			 prize claim.
(14)
Claim
			 Expires in One Year:
Claims for all prize categories, including the
			 Jackpot Prize, shall be submitted within one year after the date of the drawing
			 in accordance with this division, OAR
			 177-046-0110  and
			 177-070-0025(4).
Statutory/Other Authority: ORS 190, OR Const. Art. XV, Sec.
				  4(4) & 461
Statutes/Other Implemented: ORS
				  461