NC H1115

Allows members to revoke retirement allowance beneficiary nominations and make new nominations within 10 years of retirement under Options 2, 3, 5, or 6, effective the first day of the month the new nomination is made.

Permits members whose nominated spouse predeceases them to nominate a new spouse within 90 days of remarriage and file the designation with the Board of Trustees within 120 days of remarriage.

Allows divorced members who nominated a spouse to revoke that nomination and elect a new benefit option effective on the first day of the month the new option is elected.

Automatically revokes elections of Options 2, 3, or 6 and nominations if the nominated person dies before the first payment becomes due or before the first retirement check is cashed.

Applies to all benefit option elections and nominations made on or after the effective date, including change requests from members already receiving retirement allowances.