Amendment-74-14 - Laserfiche WebLink

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An employee becoming disabled for reasons not connected with his employment shall be eligible for disability retirement provided he has at least 5 years of service; such disability allowance is equal. to 1.8% of final compensation for each year of service, with a guarantee of 1/3 of such final compensation for most employees who have rendered at least. 10 years of service. The 'ordinary" disability retirement allowance shall under no circumstances exceed the service retirement allowance which would become payable at age 60 if employment could be continued to that age. DEATH BENEFITS Death Before Retirement Basic Death Benefit This benefit is a refund of the member's accumulated contributions plus six months' salary provided }.7e has been a member for six -years or. more. For those who die before completing six years of membership, the benefit is one month's salary for each year of membership plus refund of contributions. The salary referred to is that earned during the year preceding death. Prior service does not count toward this benefit. Industrial Death If death is service -connected in the judgment of the Industrial Accident Commission, a monthly income is paid to the widow for life (or until remarriage) instead of the above basic death benefit. However, if she is also eligible for survivor benefits from Social, Security because of the member's death, the States system benefit will be reduced by the amount of such Social Security so long as Social Security benefits are payable (usually until the youngest child reaches 18 and after the widow reaches age 62). The total, including Social Security, would be 50% of "final compensation". If death was caused by external violence or physical force, the total benefit (including Social Security) would be increased to the follow- ing percentages of "final compensation" so long as the widow lives and does not remarry: Widow with 3 or more children under 18 75% Widow with 2 children under 18 70% Widow with 1 child under 18 62Yb 1957 Survivor Benefit Employees with 5 or more years of service who have reached the minimum age for service retirement have further death protection under this item. Here the surviving widow can elect to receive either the basic death benefit or a monthly income equal to one-half the unmodified retirement allowance the employee was eligible for on the date of his death. The monthly income lasts until the widow's death or remarriage with a guarantee that the System will pay as much as under the basic death benefit. 1959 Survivor Benefit A monthly allowance shall be paid to certain sur- vivors of a member who dies before retirement.