Increases the lump sum death benefit payable to the heirs or estate of a 1977 fund member. Provides that a 1977 fund member may extend their deferred retirement option plan (DROP) retirement date up to 60 months after the member entered the DROP. Makes conforming changes.

Statutes affected:
Introduced Senate Bill (S): 36-8-8-8, 36-8-8-11, 36-8-8-16, 36-8-8.5-10.5, 36-8-8.5-14
Senate Bill (S): 36-8-8-8, 36-8-8-11, 36-8-8-16, 36-8-8.5-10.5, 36-8-8.5-14