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Utah State Retirement and Insurance Benefit Act | |
Judges' Contributory Retirement Act | |
Section 502 | Benefits payable upon death of retired member. |
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49-17-502. Benefits payable upon death of retired member. (1) (a) The death benefit payable to a retiree's spouse at the time of death is an allowance equal to 65% of the allowance which was being paid to the retiree at the time of death. (b) The effective date of the accrual of this allowance is the first day of the month following the month in which the retiree died. (2) (a) Notwithstanding the amount of the allowance under Subsection (1), at the time of retirement, a retiree may elect to increase the spousal death benefit up to 75% of an allowance computed in accordance with Section 49-17-402. (b) If an election is made under Subsection (2)(a), the member's allowance shall be reduced to reflect the actuarial equivalent necessary to pay for the increased spousal death benefit above 65%.
Amended by Chapter 224, 2009 General Session |
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