AN ACT ESTABLISHING A SURVIVOR'S ALTERNATE BENEFIT UNDER THE CONSOLIDATED JUDICIAL RETIREMENT SYSTEM THAT IS ON PAR WITH THE SURVIVOR'S ALTERNATE BENEFIT PROVIDED UNDER THE TEACHERS' AND STATE EMPLOYEES' RETIREMENT SYSTEM.
House committee substitute to the 1st edition makes the following changes.
Amends GS 135-64, which provides for a death benefit for retired members, to provide that for a retired member who earned the first month of membership service credit on or after July 1, 2023, and had not withdrawn contributions for such membership in the Retirement System (was, a former member vested as of July 1, 2023), dies before before the member's sixty-fifth birthday while receiving a retirement allowance, the former member's surviving spouse is to be paid an annual retirement allowance.
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