Judges’ Retirement System II: beneficiaries.
Vote required
Majority
Fiscal committee
No
Appropriation
No
Current location
Passed
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Progress
Where this bill stands in the legislative process.
- Introduced
- Passed Assembly
- Passed Senate
- To Governor
- Became Law
Overview
This bill amends the Judges’ Retirement System II to allow judges to designate a beneficiary other than their spouse to receive their retirement allowance after their death. It clarifies how survivor benefits are paid to a surviving designated beneficiary, potentially removing the 20-year service requirement for receiving a full allowance. The bill also includes technical changes and adjustments to benefit calculations to ensure consistency and fairness.
Key provisions
- Allows judges to designate a non-spouse beneficiary for their retirement allowance after death.
- Provides that if a non-spouse beneficiary waives entitlement to the allowance, the judge’s allowance is adjusted accordingly.
- Removes the requirement of 20 years of service for receiving a full retirement allowance for surviving designated beneficiaries.
- Specifies how survivor benefits are paid to a surviving designated beneficiary spouse.
- Clarifies the calculation of the monthly allowance for surviving spouses.
- Includes provisions for flexible beneficiary options, allowing judges to specify a dollar amount or percentage to be paid.
- Addresses the payment of monetary credits to surviving beneficiaries.
- Makes related technical and administrative changes to the Judges’ Retirement System II.
Who is affected
- Judges
- Spouses of retired judges
- Designated beneficiaries of retired judges
Bill text
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Sponsors
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1 on record
Primary sponsor
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