5 §18405. Remarriage after retirement
Title 5: ADMINISTRATIVE PROCEDURES AND SERVICES
Part 20: STATE RETIREMENT SYSTEM (HEADING: PL 1985, C. 801, §5 (NEW))
Chapter 425: PARTICIPATING LOCAL DISTRICTS HEADING: PL 1985, C. 801, §5 (NEW)
Subchapter 5: BENEFITS HEADING: PL 1985, C. 801, §5 (NEW)
Article 1: GENERAL PROVISIONS HEADING: PL 1985, C. 801, §5 (NEW)
§18405. Remarriage after retirement
If the recipient of a reduced service retirement benefit under section 18404, subsection 3, 4, 5-A or 5-B remarries after the recipient's spouse dies, the following provisions apply. [1999, c. 744, §15 (AMD); 1999, c. 744, §17 (AFF).]
1. Election of benefit for new spouse. The recipient may elect to have the reduced retirement benefit paid under the same option to the new spouse after the recipient's death instead of continuing the original reduced retirement benefit to the recipient during his lifetime, under the following conditions.
A. The original spouse must have been the sole beneficiary of the reduced retirement benefit under section 18404, subsection 3, 4, 5-A or 5-B; and [2001, c. 118, §9 (AMD).]
B. [1987, c. 612, §8 (RP).]
C. [1987, c. 612, §8 (RP).]
D. The recipient shall have been married to the new spouse for at least 6 months. [1987, c. 612, §9 (NEW).]
[ 2001, c. 118, §9 (AMD) .]
2. Time and manner of election. The recipient may make the election under subsection 1 at any time after the death of the original spouse and remarriage to the new spouse by:
A. Sending a written request to the executive director; and [1985, c. 801, §§5, 7 (NEW).]
B. [1987, c. 612, §10 (RP).]
C. Submitting evidence of the death of the former spouse and date of marriage to the new spouse. [1987, c. 612, §10 (NEW).]
[ 1987, c. 612, §10 (AMD) .]
3. Amount of benefit. The amount of the benefit payable under the option elected shall be the actuarial equivalent, at the date of the beginning of payment of benefits under this section, of the amount of reduced retirement benefits the qualifying member has been receiving.
[ 1985, c. 801, §§5, 7 (NEW) .]
4. Effective date of coverage of new spouse. The effective date of the designation of the new spouse as the recipient's new beneficiary will be the date the request is received or 6 months after the date of remarriage, whichever comes later. The recipient's retirement benefit shall be adjusted on the first day of the month following the effective date of the new designation of beneficiary.
[ 1987, c. 612, §11 (NEW) .]
SECTION HISTORY
1985, c. 801, §§5,7 (NEW). 1987, c. 612, §§7-11 (AMD). 1999, c. 744, §15 (AMD). 1999, c. 744, §17 (AFF). 2001, c. 118, §9 (AMD).