The bill amends various sections of the Public Employees Retirement Act to improve clarity and consistency regarding disability and survivor pensions. It establishes a disability review committee composed of retirement board members and at least one licensed physician to evaluate disability retirement applications. Additionally, it allows members to credit personal service rendered to an affiliated public employer prior to August 1, 1947, provided they acquire one year of service credit. The bill also clarifies the process for purchasing service credit and reinstating service credit after withdrawal. Furthermore, it exempts the collection of overpayments from the Procurement Code, enabling the retirement association to recover overpayments made due to errors or fraudulent information.

In terms of survivor pensions, the bill modifies eligibility criteria to ensure that designated survivor beneficiaries receive pensions if a member dies due to employment-related causes. If no designated beneficiary exists, the eligible surviving spouse will be compensated. The bill also introduces provisions for distributing survivor pensions to eligible surviving children and clarifies the pension amounts based on the deceased member's final average salary. Additionally, it updates the retirement board's authority and membership structure, ensuring effective management of the retirement system while enhancing privacy protections regarding member and retiree information. The amendments aim to promote transparency, accountability, and fairness in the retirement system, particularly concerning survivor benefits and magistrate retirement criteria.

Statutes affected:
introduced version: 10-11-4, 10-11-4.2, 10-11-10.1, 10-11-14.5, 10-11-26.3, 10-11-130, 10-11-130.1, 10-11-135, 10-11A-7