Compare Versions


Bill PDF |Add To My Favorites | print page

SB-1168 Public employees’ retirement: beneficiary payment.(2021-2022)



Current Version: 08/26/22 - Chaptered

Compare Versions information image


SB1168:v96#DOCUMENT

Senate Bill No. 1168
CHAPTER 193

An act to amend Section 21620 of the Government Code, relating to public retirement.

[ Approved by Governor  August 26, 2022. Filed with Secretary of State  August 26, 2022. ]

LEGISLATIVE COUNSEL'S DIGEST


SB 1168, Cortese. Public employees’ retirement: beneficiary payment.
The Public Employees’ Retirement Law (PERL) creates the Public Employees’ Retirement System (PERS) to provide defined benefits to members of the system based on final compensation, credited service, and age at retirement, subject to certain variations. PERS is administered by its board of administration. Existing law, applicable to agencies that contract with PERS to provide benefits to their employees, requires a payment of $500 to be made to a beneficiary upon the death of a member after retirement and while receiving a retirement allowance from PERS, unless otherwise provided.
This bill, for a death occurring on or after July 1, 2023, would increase the amount of the above-described benefit to $2,000.
Vote: MAJORITY   Appropriation: NO   Fiscal Committee: YES   Local Program: NO  

The people of the State of California do enact as follows:


SECTION 1.

 Section 21620 of the Government Code is amended to read:

21620.
 (a) Upon the death of any person, after retirement and while receiving a retirement allowance from this system, there shall be paid to the person’s beneficiary as nominated by written designation duly executed and filed with the board, the sum of five hundred dollars ($500), to be provided from contributions by the state or contracting agency, as the case may be.
(b) Notwithstanding Section 7522.44, the benefit amount authorized in subdivision (a) shall be increased to two thousand dollars ($2,000) for any death occurring on or after July 1, 2023.
(c) This section shall apply to all contracting agencies and to the employees of those agencies.