If a college teacher who is eligible to make the election provided by this chapter
dies prior to receiving an annuity, the college teacher's designated beneficiary may
elect to receive a monthly annuity computed according to the provisions of this chapter
in a manner which the deceased teacher's annuity would have been computed if the deceased
teacher had lived, made such an election, and selected option one as outlined in section 15-39.1-16. The designated beneficiary of a college teacher who exercised the election in section 15-10-17 is not eligible for benefits provided in this section.
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