(a) Except as provided in subsection (d) of this section and subdivision (5) of this subsection, each married member shall, subject to regulations issued by the Retirement Commission, make an election in accordance with subsections (d) and (e) of this section to receive a reduced retirement allowance with the provision that the reduced retirement allowance, or such part which is specified by such person in his notice of election, shall be continued after his death to his spouse named in the election for as long as his spouse lives. The reduced retirement allowance shall be in an amount which the Retirement Commission determines to be the actuarial equivalent of the retirement allowance that would have been payable had not the election been made. A member may elect to receive his retirement allowance in accordance with any of the following options: (1) A reduced amount payable to the member for his lifetime with the provision that after his death his spouse, if surviving, shall be entitled to receive a lifetime income equal to fifty per cent of the reduced monthly amount payable to the member; (2) a reduced amount payable to the member for his lifetime with the provision that after his death his contingent annuitant shall be entitled to receive a lifetime income equal to either fifty or one hundred per cent of the reduced amount payable to the member; (3) a reduced amount payable to the member for his lifetime with the provision that if he shall die within either a ten or twenty-year period following the date his retirement income commences, whichever is selected by the member, the reduced amount continues to his contingent annuitant for the balance of the ten or twenty-year period; (4) an amount payable to the member for his lifetime with no payments continuing after the member’s death, except for a lump sum death benefit equal to the member’s retirement contributions plus interest reduced by the federal tax exclusion ratio times the income payments made to the member from the fund; or (5) for judges eligible for retirement benefits under section 45a-36a, an unreduced amount payable to the member for his lifetime with the provision that after his death his spouse, if surviving, shall be entitled to receive a lifetime income equal to fifty per cent of the unreduced monthly amount payable to the member. If a member who has been married for one year dies before retirement but after completion of the age and service requirements that would permit him to retire upon his own application, the retirement allowance shall be payable to his spouse commencing at his death, in accordance with regulations to be established by the Retirement Commission.

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(b) Except as provided in subsection (c) of this section, if any member who has not exercised his option under subsection (a) of this section dies after January 1, 1968, and before having elected retirement or before his retirement income payments begin, but after satisfying the requirements of sections 45a-36 to 45a-39, inclusive, that would permit him to retire on his own application, and such member is survived by a spouse, a retirement income shall be paid monthly to his spouse, commencing at his death and ending upon the death of the spouse. The amount payable shall be the average of (1) fifty per cent of the retirement allowance payable to the member for his lifetime if no payments were to continue after the member’s death, and (2) fifty per cent of the reduced retirement allowance that such member would have received if he had retired on the date of his death with the provision that after his death his spouse would receive one-half of the amount payable to the member.

(c) The surviving spouse of (1) a judge or employee whose separation from service occurred before July 1, 1979, but after December 31, 1966, and (2) whose years of credited service at separation totalled, in the case of a judge, ten or more but less than twelve years, and in the case of an employee, ten or more but less than twenty years, (3) who has not elected or who did not have in effect at his death the option provided for in subsection (a) of this section, and (4) who died after January 1, 1968, and on or before July 1, 1979, and before his retirement income payments began, shall receive a retirement income, retroactive to the date of his death or January 1, 1979, whichever is later. Such payments shall be paid monthly in accordance with the regulations of the State Retirement Commission to such spouse, as if such judge or employee had exercised an option under subsection (a) to provide an amount equal to one-third of the retirement allowance that such judge or employee would have received if he had retired on the date of his death. Such payment shall continue until such spouse remarries or dies.

(d) Each married member shall be presumed to have made the election provided for in subsection (a) of this section for continuation to his surviving spouse of an amount equal to fifty per cent of his reduced retirement allowance provided (1) each such member may elect at any time prior to retirement to waive the retirement income option provided by subsection (a) of this section or may revoke any such election at any time prior to retirement, and (2) the election meets the requirements of subsection (e) of this section.

(e) The election under subsection (d) of this section to waive the retirement income option provided by subsection (a) of this section shall not take effect unless (1) the spouse of the member consents, in writing, to such election, and the spouse’s consent acknowledges the effect of such election and is witnessed by a plan representative or a notary public, or (2) it is established to the satisfaction of the Retirement Commission that the consent required under subdivision (1) of this subsection may not be obtained because there is no spouse, because the spouse cannot be located, or because of such other circumstances as the commission may by regulations prescribe. Any consent by a spouse, or establishment that the consent of a spouse may not be obtained under this subdivision, shall be effective only with respect to such spouse.