{"data":{"id":"us-nyc/n.y.c.-admin.-code-13-559","jurisdiction":"us-nyc","citation":"N.Y.C. Admin. Code § 13-559","heading":"§ 13-559 Termination of options.","body":"Where a contributor has elected an option in accordance with section 13-558 of this chapter and where such option provides that upon the death of the contributor after retirement a guaranteed lump sum payment in a stated dollar amount, or that a guaranteed lump sum payment of a specific number of variable annuity units equal to a stated dollar amount, or that a guaranteed lump sum payment of a specific number of variable annuity units shall be payable to a designated beneficiary, and where such designated beneficiary predeceases the retired contributor, then the retired contributor may file a fully certified request, upon a form provided by such board, that his or her optional election terminate. Upon such request, accompanied by evidence of the death of the designated beneficiary, the previously elected option shall be null and void, and the retirement allowance thereafter payable to such retired contributor shall be such greater amount that the actuary shall compute to be the equivalent of the benefits payable had no such option been filed.","path":["New York City Administrative Code","Title 13","Chapter 4: Teachers' Retirement System"],"source_url":"https://files.amlegal.com/pdffiles/NewYorkCity/Admin/XML.zip","current_through":"Local Law 2026/135 (enacted August 31, 2026)","vintage":"","retrieved_at":"2026-09-06T02:48:57Z","sha256":"d3e790851162c3b4f3cd61f3ae0499649fd70ce3edca2ba86c036d39c8bd01b8","source_id":"us-nyc","stale":false,"prev":"us-nyc/n.y.c.-admin.-code-13-558","next":"us-nyc/n.y.c.-admin.-code-13-559.1"},"notice":"GroundRules: Original legal text. Not legal advice."}