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Bill to pay retirees through month of death advances to public hearing, supporters call it compassionate and staff detail fiscal costs
Summary
House Bill 1312 would require state pension systems to pay retirement benefits through the end of the month in which a retiree dies; supporters said it avoids posthumous clawbacks, while actuarial staff estimated ongoing NGFO costs of about $6.5 million and one-time administration costs.
House Bill 1312 would change pension payment practice so that retirement system payments cover the entire month in which a member dies. Committee staff said the change responds to situations in which Departments of Retirement Systems must seek reimbursement for part of a final monthly payment when a member dies before the month’s end.
Committee briefings stated the change would apply across multiple retirement systems, including…
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