(a) Application for the accelerated death benefit shall be made by filing a disability retirement application with the system.

(b) An accelerated death benefit may be paid if the member would have been eligible for the death benefit on the date the disability application is filed with the system.

(c) Once the member has been determined to be eligible to be retired for disability and meets the eligibility requirements for the accelerated death benefit pursuant to subdivision (g) of this section, the member shall be notified by the system of such determination and of the member’s right to elect the accelerated death benefit in lieu of the disability retirement benefit, if any, to which the member may otherwise be entitled.

(d) The election of the accelerated death benefit shall be made on a form provided by the system duly signed by the member and acknowledged by a notary public.

(e) In order to be effective, such election must be filed with the system no later than the latest of:

(f) Upon filing with the system on or after the date of notification pursuant to subdivision (c) of this section, an election of the accelerated death benefit shall be irrevocable.

(g) An accelerated benefit shall only be payable to a member where the system’s medical board shall have determined that such member has:

(h) Should the member die after filing the election of the accelerated death benefit and satisfaction of all other conditions to the payment of such benefit but prior to payment by the system, payment of such benefit shall be made to the member’s estate.