Amend the bill, as and if amended, by striking all after the enacting words w and inserting:
/ SECTION 1. Section 9-1-1620(B)(1) of the 1976 Code, as last amended by Act 387 of 2000, is further amended to read:
"(1) A retired member, within one year five years after a change in marital status, may revoke the form of monthly payment elected and elect a new form of monthly payment, which must be the actuarial equivalent of the maximum retirement allowance payable to the member under law. The new form of monthly payment is effective on the first day of the month in which the election of the new form of monthly payment is elected received by the system and must be calculated based upon the ages of the retired member and the member's beneficiary or beneficiaries as of that effective date."
SECTION 2. Section 9-11-150(B)(1) of the 1976 Code, as last amended by Act 387 of 2000, is further amended to read:
"(1) A retired member, within one year five years after a change in marital status, may revoke the form of monthly payment elected and elect a new form of monthly payment, which must be the actuarial equivalent of the maximum retirement allowance payable to the member under law. The new form of monthly payment is effective on the first day of the month in which the election of the new form of monthly payment is elected received by the system and must be calculated based upon the ages of the retired member and the member's beneficiary or beneficiaries as of that effective date."
SECTION 3. This act takes effect upon approval by the Governor and applies to any new form of monthly payment elected thereafter due to a change in marital status. /
Renumber sections to conform.
Amend title to conform.