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Amendment-74-14
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Amendment-74-14
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DEATH AFTER RETIRFMEN' <br />Upon death after retirement, the System will pay $500 in a lump sum to the bene- <br />ficiary designated by the member. If the employee chooses to retire; on the <br />"unmodified" allowance, this $500 will be the only benefit paid. <br />ONE-HALF CONTINUANCE <br />One-half continuance (optional to contracting agencies) provides that upon the <br />death of a local safety member after retirement for service or disability, one- <br />half his retirement allowance shall be continued to his surviving wife (provided <br />she was married to him at least one year prior to his retirement) throughout her <br />life or until her remarriage. Should there be children under the age 18, but no <br />surviving wife (or the surviving wife has died or remarried) then one-half his <br />retirement allowance shall be continued to said children while they are unmarried <br />and under the age of 18 years. Should there be no surviving wife and no surviving <br />children oder the age of 18 years, then a surviving parent or parents dependent <br />upon him for support may collectively receive one-half of his retirement allowance <br />throughout their lives. <br />This benefit is essentially the same benefit that is provided retired employees <br />under service retirement Option 3. The main difference is that under Option 3 <br />the retired member pays the cost of providing this protection to his widow by <br />accepting a lower retirement allowance during his lifetime, whereas, under the <br />one-half continuance benefits of Section 21264, the retired member®s widow would <br />be given this protection at the cost of the employing agency. <br />How to Retire <br />An Application for Retirement, PERS-BEN-369, (available from your employer) <br />should be submitted to the Public Employees' Retirement System, P. 0. Box 1953, <br />Sacramento, about 90 days in advance of the intended retirement. If quotations <br />under optional retirement benefits are desired, the name, birth date, and sex <br />of person intended as beneficiary must be shown on the application. The Retire- <br />ment System -will advise you of the allowance payable and will furnish such forms <br />and instructions as may be necessary for your retirement. When all documents <br />have been properly completed and returned to the Retirement System, your name <br />will be added to the retirement rolls for issuance of allowance payments at the <br />end of each month. Retirement cannot be earlier than the first of the month in <br />which your application is received in this office. <br />!-low to File Claim for Death Benefit <br />Notice of the death of the member will come to the Retirement System from the <br />employer, or may come in a letter from relatives of the deceased member. The <br />Retirement System will furnish an affidavit for the beneficiary to sign and will <br />request a certified copy of the death certificate be furnished together with a <br />newspaper clipping announcing the death. After the above documents are received, <br />and are accepted as meeting legal requirements, a warrant in payment will be <br />mailed to the beneficiary. <br />
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