DE SB215

Creates new option under §8821A allowing county and municipal police officers and Wilmington firefighters to elect a 3% reduction in their service or disability pension

Employees who elect the reduced pension receive an irrevocable option providing survivor benefits equal to 75% of the reduced pension amount instead of the standard 50%

Election must be made in Board-approved form and filed before issuance of the employee's first benefit check

Modifies §8822 to specify that survivors of deceased retirees receive the greater of 50% of the pension or, if elected under §8821A, 75% of the reduced pension

Applies to members who die in service and to individuals receiving service or disability pensions at time of death