CA AB2606

Increases postretirement death benefits for school members from $2,000 to $4,000 effective January 1, 2013, with annual $500 increases until reaching $6,000 on April 1, 2017

Allows school employers to elect by contract to pay $5,000 instead of the base amount for deaths occurring between January 1, 2013, and December 31, 2014

After April 1, 2017, the death benefit amount adjusts annually using the same methodology as monthly retirement allowances under existing law

Requires employer contributions to fund increased benefits, calculated as a level percentage of member compensation

Applies only to school employers and school districts, excluding contracting agencies and local members