Extending the survivor annuity option for preretirement death in plan 1 of the public employees' retirement system to members who die after leaving active service.
Summary
Provides the survivors of members of the Public Employees’ Retirement System Plan 1 (PERS 1) that die after having left service, but have not started retirement benefits, the option of receiving a survivor annuity, instead of a withdrawal of the member’s accumulated contributions.
The deceased inactive member must have completed at least 10 years of service at the time of death to provide the survivor annuity option to the surviving beneficiary.
From the House Bill Report (SB 5315), written by the Legislature's nonpartisan staff. Read the full report ↗
AN ACT Relating to extending the survivor annuity option for preretirement death in plan 1 of the public employees' retirement system to members who die after leaving active service;