Section 5505.21 | Distribution of accumulated contributions when no pension payable.
Should a member or former member of the state highway patrol retirement system die and no pension becomes payable from funds of the system on account of the member's or former member's employment with the patrol, the member's or former member's accumulated contributions, less interest, standing to the member's or former member's credit in the employees' savings fund at the time of death shall be paid to the beneficiary or beneficiaries the member or former member has nominated by written designation duly executed and filed with the state highway patrol retirement board. A member or former member may designate an individual or a trust as a beneficiary. If there is no designated beneficiary surviving the member or former member, the member's or former member's accumulated contributions shall be paid according to the state law of descent and distribution; provided that, if the member's or former member's accumulated contributions are not claimed by an eligible person or by the estate of the deceased member or former member within seven years, they shall be transferred to the income fund of the system and after that shall be paid from that fund to such person or estate upon application to the board.
Available Versions of this Section
- April 16, 1993 – House Bill 638 - 119th General Assembly [ View April 16, 1993 Version ]
- April 6, 2017 – Amended by House Bill 520 - 131st General Assembly [ View April 6, 2017 Version ]
- September 29, 2017 – Amended by House Bill 49 - 132nd General Assembly [ View September 29, 2017 Version ]