(a) Any election or any alteration or revocation of a prior election by a participant for any purpose under this plan shall be on forms or made in a manner prescribed for that purpose by the plan administrator. To be effective, the forms required or the required action for any purpose under this plan must be completed and received in accordance with regulations adopted by the commissioner of administration.
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Terms Used In Alaska Statutes 14.25.430

  • action: includes any matter or proceeding in a court, civil or criminal. See Alaska Statutes 01.10.060
  • Beneficiary: A person who is entitled to receive the benefits or proceeds of a will, trust, insurance policy, retirement plan, annuity, or other contract. Source: OCC
  • commissioner: means the commissioner of education and early development. See Alaska Statutes 14.60.010
(b) At any time, but not less than seven days before the distribution commencement date, a member, alternate payee, or beneficiary may change

(1) the form of payment election;
(2) an election to commence benefits; or
(3) the joint annuitant designation.
(c) Changes in elections are not allowed on or after seven days before the distribution commencement date.
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