SB 692 Summary

• Requires private employers offering pension plans to allow vested employees to receive pension payments upon becoming disabled, regardless of age, with disability defined under section 392-3.

• Permits the Director of Labor and Industrial Relations to reopen workers' compensation cases after settlement if fraud was practiced or if undue influence was exerted on any party.

• Expands grounds for reopening workers' compensation settlements to include cases where disability or mental incompetence of the employee affected the settlement.

• Takes effect upon approval, with the workers' compensation provisions applying retroactively to disability claims arising on or after July 1, 1997.