2005 Minnesota Statutes - 354A.34 — Disposition of unpaid period certain for life or guaranteed refund optional annuities.

     354A.34 Disposition of unpaid period certain for life or 
  guaranteed refund optional annuities. 


    If a retiree from a coordinated program who has elected a 
 period certain and for life thereafter or a guaranteed refund 
 optional annuity form dies without having a designated 
 beneficiary who has survived the retiree, any remaining unpaid 
 guaranteed annuity payments shall be computed at the rate of 
 interest specified in section 356.215, subdivision 8, and paid 
 in one lump sum to the estate of the retiree.  If a retiree from 
 a coordinated program who has elected a period certain and for 
 life or a guaranteed refund optional annuity form dies with a 
 designated beneficiary who has survived the retiree but the 
 designated beneficiary dies without there existing another 
 designated beneficiary, any remaining unpaid guaranteed annuity 
 payments shall be computed at the rate of interest specified in 
 section 356.215, subdivision 8, and paid in one lump sum to the 
 estate of the designated beneficiary.  


    HIST: 1979 c 217 s 19; 1Sp1985 c 7 s 35; 2002 c 392 art 11 s 
 52