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Current as of January 01, 2025 | Updated by Findlaw Staff
A. A member who elects to participate in the deferred retirement option plan shall designate a beneficiary. A member's beneficiary designation applies to all amounts in the member's deferred retirement option plan participation account.
B. If a designated beneficiary predeceases a deferred retirement option plan participant who dies before designating a new beneficiary, the beneficiary of the participant's deferred retirement option plan participation account shall be the following persons in the following order of priority:
1. The participant's surviving spouse.
2. The participant's natural or adopted children in equal shares.
3. The participant's estate.
C. A member shall not make a beneficiary designation pursuant to this section that results in an abrogation of a member's community property obligations under the applicable laws of this state.
Cite this article: FindLaw.com - Arizona Revised Statutes Title 38. Public Officers and Employees § 38-844.07. Designation of deferred retirement option plan beneficiaries - last updated January 01, 2025 | https://codes.findlaw.com/az/title-38-public-officers-and-employees/az-rev-st-sect-38-844-07/
FindLaw Codes may not reflect the most recent version of the law in your jurisdiction. Please verify the status of the code you are researching with the state legislature before relying on it for your legal needs.
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