(a) Each member may, on a form provided for that purpose which was signed and filed with the Board of Trustees, designate a beneficiary (or beneficiaries) to receive the benefit, if any, which may be payable in the event of death; and each designation may be revoked by such member by signing and filing with the Board of Trustees a new designation of beneficiary form.
(b) If a deceased member officer failed to name a beneficiary in the manner prescribed above in subsection (a) of this section, or if the beneficiary (or beneficiaries) named by the deceased member predeceases the member, the death benefit, if any, which may be payable under the plan with respect to such deceased police officer may be paid at the discretion of the Board of Trustees to the estate of the deceased member, provided that the Board of Trustees may direct that the commuted value of the remaining monthly income payments be paid in a lump sum. Any payment made to any person pursuant to this section shall operate as a complete discharge of all obligations under the plan with regard to such deceased member and shall not be subject to review by anyone, but shall be final, binding and conclusive on all persons ever interested hereunder.
(Ord. No. 10-005, § 2, 2-2-10)
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