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Senate Bill 0087


Senate Bill 0087

ARCHIVE (2003)

Latest Information

 

DIGEST OF SB87 (Updated February 4, 2003 2:54 PM - DI 84)


PERF and TRF benefit payments. Eliminates the requirement that the last retirement benefit paid by the teachers' retirement fund (TRF) be prorated to terminate at the member's death. Provides that a surviving spouse or dependent entitled to a statutory benefit may be designated as a beneficiary for the annuity savings account of a member of the public employees' retirement fund (PERF) or TRF. Permits a PERF and TRF member who is receiving a retirement benefits to change the member's payment option and beneficiary in certain circumstances. (The introduced version of this bill was prepared by the pension management oversight commission.)
    Current Status:
     In Committee - 2nd House
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