Optional payments for alternate payees pursuant to a qualified domestic relations order may be made as follows. (1) In lieu of paying an alternate payee the interest awarded by a qualified domestic relations order, the system, at its sole discretion, may pay the alternate payee an amount that is the actuarial equivalent of the interest in form of: (A) an annuity in equal monthly installments for the life of the alternate payee; or (B) a lump sum. (2) If the alternate payee is paid pursuant to this section, the system shall be entitled to rely on a beneficiary designation or benefit option selection made or changed pursuant to its program provisions without regard to any domestic relations order.
|
