The bill amends the Judges Retirement Act of 1992, specifically section 506, to clarify and update the procedures regarding retirement allowances for judges. It allows members or vested former members to elect between a straight life retirement allowance or an optional retirement allowance upon application for retirement. Key changes include the requirement for members to file a written election with the retirement system before the effective date of their retirement allowance, and the specification that the designated beneficiary must be a close relative, such as a spouse, child, or parent. The bill also introduces provisions for payment of retirement allowances to trusts under certain conditions and clarifies the process for changing beneficiaries in the event of divorce.

Additionally, the bill modifies language throughout the section to enhance clarity and precision, such as changing "shall" to "will" in certain contexts and specifying that the retirement allowance must revert to a straight life retirement allowance if the designated beneficiary predeceases the retirant. It also emphasizes the necessity of spousal consent for certain elections and outlines the implications of divorce on the election of payment options. Overall, these amendments aim to streamline the retirement process for judges while ensuring that beneficiaries are clearly defined and protected.

Statutes affected:
House Introduced Bill: 38.2506