Benefits are limited as follows.
1. One benefit only. A beneficiary may select only one benefit, regardless of how many benefits the beneficiary qualifies for.
2. Election final. Except as provided in section 17803, subsection 4, and section 17953, subsection 8, if a beneficiary elects a benefit after receiving reasonable notification of available options from the retirement system, the beneficiary's election of benefit is final and may not be changed or revoked at a later date.