49-11-619. Permanent relinquishment of benefit -- Procedure.
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Effective 5/6/2026
49-11-619. Permanent relinquishment of benefit -- Procedure.
(a)A member or retiree may not permanently relinquish a benefit under this title.
(b)Except for a defined contribution plan authorized by this title, a designated beneficiary may permanently relinquish a benefit under this title by signing an irrevocable written relinquishment.
(a)A designated beneficiary may disclaim beneficiary status and the benefit shall then be payable first to any alternate designated beneficiary, then dispersed under Title 75, Chapter 2, Intestate Succession and Wills , as applicable.
(b)The remaining value of the benefit permanently relinquished after payments are made under Subsection (2)(a) shall remain in the fund from which the benefit was relinquished and shall be used in the calculation of future contribution rates.
(3)The office is not required to recognize or accept any written relinquishment that jeopardizes the tax qualified status of the systems, plans, or programs or otherwise violates federal law.
Amended by Chapter 98 , 2026 General Session