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Bill would pay full monthly pension in month a retiree dies to avoid clawbacks from survivors
Summary
Senate Bill 5114 would require the Department of Retirement Systems to pay a retiree’s full monthly pension for the month in which the retiree dies, rather than billing estates for prorated amounts; testimony described nominal administrative costs and cited cases where survivors were billed after a death.
Senate Bill 5114, presented to the Senate Ways & Means Committee at the request of the Select Committee on Pension Policy, would change how DRS handles pension payments in the month of a retiree’s death. Under current practice, DRS pays benefits through the date of death and, if a full monthly payment already was processed, DRS bills the estate for the portion after the date of…
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