(a) A person who retired and selected an optional service retirement annuity described by § 814.108(c)(1), (c)(2), or (c)(5) may change the optional annuity selection to the selection of a standard service retirement annuity if:
(1) pursuant to a divorce decree, a court orders the change in the annuity selection to a standard service retirement annuity; or
(2) the retiree files with the retirement system a request to change the annuity selection, if the retiree designated a person as beneficiary who:
(A) was not at the time of designation and is not currently the retiree’s spouse or dependent child; or
(B) is not currently the retiree’s spouse or dependent child and has executed since the designation a written, notarized instrument that releases the retirement system from any claim to the annuity by the beneficiary and that transfers all of the beneficiary’s interest in the annuity to the retiree.
(b) If a retiree files a request as provided by Subsection (a), the retirement system shall recompute the annuity as a standard service retirement annuity. The increase in the annuity under this section begins with the monthly payment made to the retiree for the month following the month in which a request is filed as provided by Subsection (a).