Bill Summaries: S389 (2017-2018 Session)

Tracking:
  • Bill S 389 (2017-2018)
    Summary date: Mar 23 2017 - View summary

    Directs the Department of State Treasurer, Retirement Systems Division (Division), to allow open enrollment in the Contributory Death Benefit for retired members of the Teachers' and State Employees' Retirement System, the Consolidated Judicial Retirement System, the Legislative Retirement System, and the Local Governmental Employees' Retirement System, beginning September 1, 2017, and ending December 1, 2017.

    Directs the Division to send notice, by September 1, 2017, by US mail of the open enrollment period to all retirees who elected not to be covered, or did not make an election at the time of their retirement, and to send a second notice by US mail, within 60 days of the first mailing, to any retiree who fails to make an election within that time. Specifies notice requirements.

    Provides the rate of contribution for retirees electing coverage in this period to be the rate established at the time of their retirement, increased by 12%, effective the first day of the month following receipt of election by the Division.
    Courts/Judiciary, Court System, Education, Elementary and Secondary Education, Employment and Retirement, Government, General Assembly, State Government, State Personnel, Local Government

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