HI SB1087

Amends Section 88-96 to change when accumulated contributions are returned to former employees, requiring return occur after the later of: (A) attaining age 62, or (B) termination of membership, rather than only upon attaining age 62.

Amends Section 88-341(a) to apply the same accumulated contributions return timing to Class H members, with return occurring after the later of attaining age 62 or termination of membership.

Amends Section 88-341(c) to provide vested death benefits for Class H members who became members after June 30, 2015, establishing a ten-year service threshold instead of five years for determining whether beneficiaries receive accumulated contributions or hypothetical account balance.

Maintains the fifteen-calendar-day reinstatement window and four-year membership continuation period for both regular and Class H members who separate from employment.

Takes effect upon approval.