§ 21-5-708 - Designated beneficiary. - Arkansas Statutes

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21-5-708. Designated beneficiary.

(a) (1) A covered public employee may designate a beneficiary on a form provided by his or her employer.

(2) The form to designate a beneficiary shall be completed by the covered public employee, notarized, and submitted to his or her employer to be kept in the covered public employee's personnel file.

(3) (A) If a covered public employee designates a beneficiary, he or she shall review and resubmit the designation form annually.

(B) Upon a change of beneficiary, the employer shall notify the previous beneficiary within thirty (30) days after the change of beneficiary occurred.

(b) If the covered public employee does not designate a beneficiary, the benefits shall be paid to the surviving spouse or surviving children under the age of twenty-two (22) or, if there is no surviving spouse or surviving children under the age of twenty-two (22), then to the surviving children twenty-two (22) years of age or older or to the surviving parents.

State Codes and Statutes

Statutes > Arkansas > Title-21 > Chapter-5 > Subchapter-7 > 21-5-708

21-5-708. Designated beneficiary.

(a) (1) A covered public employee may designate a beneficiary on a form provided by his or her employer.

(2) The form to designate a beneficiary shall be completed by the covered public employee, notarized, and submitted to his or her employer to be kept in the covered public employee's personnel file.

(3) (A) If a covered public employee designates a beneficiary, he or she shall review and resubmit the designation form annually.

(B) Upon a change of beneficiary, the employer shall notify the previous beneficiary within thirty (30) days after the change of beneficiary occurred.

(b) If the covered public employee does not designate a beneficiary, the benefits shall be paid to the surviving spouse or surviving children under the age of twenty-two (22) or, if there is no surviving spouse or surviving children under the age of twenty-two (22), then to the surviving children twenty-two (22) years of age or older or to the surviving parents.

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State Codes and Statutes

Statutes > Arkansas > Title-21 > Chapter-5 > Subchapter-7 > 21-5-708

21-5-708. Designated beneficiary.

(a) (1) A covered public employee may designate a beneficiary on a form provided by his or her employer.

(2) The form to designate a beneficiary shall be completed by the covered public employee, notarized, and submitted to his or her employer to be kept in the covered public employee's personnel file.

(3) (A) If a covered public employee designates a beneficiary, he or she shall review and resubmit the designation form annually.

(B) Upon a change of beneficiary, the employer shall notify the previous beneficiary within thirty (30) days after the change of beneficiary occurred.

(b) If the covered public employee does not designate a beneficiary, the benefits shall be paid to the surviving spouse or surviving children under the age of twenty-two (22) or, if there is no surviving spouse or surviving children under the age of twenty-two (22), then to the surviving children twenty-two (22) years of age or older or to the surviving parents.