§ 33.75. MEMBERSHIP; CONDITIONS OF ELIGIBILITY; APPLICATION.

(A)

Conditions of eligibility.

(1)

Employees, as defined in Section 33.74, who are covered under the retirement program provided under F.S. ch. 175, as of the effective date, shall become members of this system.

(2)

Any other employee shall, as a condition of employment, become a member upon employment.

(B)

Application. Each eligible employee shall complete an application form covering the following points, as well as any other points or items as may be prescribed by the Board.

(1)

The employee's acceptance of the terms and conditions of the retirement system, including an initialing of any declaration of ineligibility for disability benefits;

(2)

The employee's designation of a beneficiary; and

(3)

Authorization of a payroll deduction payable to the system in the amount provided for in Section 33.78(A).

(C)

Change in Designation of Beneficiary.

(1)

A member, including a member who has elected to participate in the Deferred Retirement Option Plan pursuant to Section 33.84, shall designate the joint annuitant or beneficiary to receive the benefit, if any, payable under the plan in the event of the member's death, on a form provided by the Board of Trustees.

(2)

The member may revoke or change the designation of a joint annuitant or beneficiary at any time prior to the commencement of retirement income or benefits, or prior to the member's entry into the Deferred Retirement Option Plan, by submitting such change in writing on a form provided by the Board of Trustees.

(3)

A retired member, including a retired member who is a participant in the Deferred Retirement Option Plan may change the designation of the member's joint annuitant or beneficiary after the commencement of retirement income or benefits up to two (2) times without the approval of the Board of Trustees. Any additional changes must be approved by the Board of Trustees. A retiree need not provide proof of the good health of the joint annuitant or beneficiary being removed, and the joint annuitant or beneficiary being removed need not be living. The consent of the retiree's joint annuitant or beneficiary to any change in such designation shall not be required. The member must pay the full cost of determining the equivalent actuarial value of the benefit payable. The amount of retirement income payable to the member upon the designation of a new joint annuitant shall be actuarially redetermined, taking into account the benefits already received by the member, and the age and sex of the former joint annuitant, the new joint annuitant and the member. Each designation of a joint annuitant or beneficiary shall be made in writing on a form provided by the Board of Trustees. Upon a change in designation of joint annuitant or beneficiary, the rights of all previously designated joint annuitants or beneficiaries to receive any benefit under the system shall cease.

(Ord. No. 17-16 , § 2, passed 10/4/16)