(1) If a retiree who retired under either Division A or Division B dies, the retiree's surviving spouse shall receive an allowance equal to 65% of the allowance that was being paid to the retiree at the time of death.
(2) (a) Notwithstanding the amount of the allowance under Subsection (1), at the time of retirement, a retiree may elect to increase the spousal death benefit to 75% of an allowance computed in accordance with Section 49-15-402. (b) If an election is made under Subsection (2)(a), the member's allowance shall be reduced to an amount payable monthly for life to reflect the actuarial equivalent necessary to pay for the increased spousal death benefit above 65%.
(a) Notwithstanding the amount of the allowance under Subsection (1), at the time of retirement, a retiree may elect to increase the spousal death benefit to 75% of an allowance computed in accordance with Section 49-15-402.
(b) If an election is made under Subsection (2)(a), the member's allowance shall be reduced to an amount payable monthly for life to reflect the actuarial equivalent necessary to pay for the increased spousal death benefit above 65%.
(3) (a) For a retiree whose retirement date is before July 1, 2009, the office shall provide an optional spousal death benefit to bring the total spousal death benefit up to 75% of an allowance computed in accordance with Section 49-15-402. (b) A retiree may elect to purchase the optional spousal death benefit until July 1, 2010. (c) If an election is made under Subsection (3)(b), the retiree's allowance shall be reduced to an amount payable monthly for life to reflect the actuarial equivalent necessary to pay for the increased spousal death benefit above 65%. (d) The board shall make rules to administer the death benefit under this Subsection (3).
(a) For a retiree whose retirement date is before July 1, 2009, the office shall provide an optional spousal death benefit to bring the total spousal death benefit up to 75% of an allowance computed in accordance with Section 49-15-402.
(b) A retiree may elect to purchase the optional spousal death benefit until July 1, 2010.
(c) If an election is made under Subsection (3)(b), the retiree's allowance shall be reduced to an amount payable monthly for life to reflect the actuarial equivalent necessary to pay for the increased spousal death benefit above 65%.
(d) The board shall make rules to administer the death benefit under this Subsection (3).
(4) If the retiree retired solely under Division B and dies leaving unmarried children under the age of 18 or dependent unmarried children with a mental or physical disability, the children shall qualify for a benefit as prescribed under Subsection 49-15-502(1)(d).
(5) (a) A beneficiary who qualifies for a monthly benefit under this section shall apply in writing to the office. (b) The allowance shall begin on the first day of the month following the month in which the: (i) member or participant died, if the application is received by the office within 90 days of the date of death of the member or participant; or (ii) application is received by the office, if the application is received by the office more than 90 days after the date of death of the member or participant.
(a) A beneficiary who qualifies for a monthly benefit under this section shall apply in writing to the office.
(b) The allowance shall begin on the first day of the month following the month in which the: (i) member or participant died, if the application is received by the office within 90 days of the date of death of the member or participant; or (ii) application is received by the office, if the application is received by the office more than 90 days after the date of death of the member or participant.
(i) member or participant died, if the application is received by the office within 90 days of the date of death of the member or participant; or
(ii) application is received by the office, if the application is received by the office more than 90 days after the date of death of the member or participant.
Copyright ©2024 LegalFix. All rights reserved. LegalFix is not a law firm, is not licensed to practice law, and does not provide legal advice, services, or representation. The information on this website is an overview of the legal plans you can purchase—or that may be provided by your employer as an employee benefit or by your credit union or other membership group as a membership benefit.
LegalFix provides its members with easy access to affordable legal services through a network of independent law firms. LegalFix, its corporate entity, and its officers, directors, employees, agents, and contractors do not provide legal advice, services, or representation—directly or indirectly.
The articles and information on the site are not legal advice and should not be relied upon—they are for information purposes only. You should become a LegalFix member to get legal services from one of our network law firms.
You should not disclose confidential or potentially incriminating information to LegalFix—you should only communicate such information to your network law firm.
The benefits and legal services described in the LegalFix legal plans are not always available in all states or with all plans. See the legal plan Benefit Overview and the more comprehensive legal plan contract during checkout for coverage details in your state.
Use of this website, the purchase of legal plans, and access to the LegalFix networks of law firms are subject to the LegalFix Terms of Service and Privacy Policy.