NC H517

Allows beneficiaries of active employees and retired members to assign death benefits from the Teachers' and State Employees' Retirement System, Local Governmental Employees' Retirement System, Consolidated Judicial Retirement System, and Legislative Retirement System to funeral establishments to pay funeral expenses.

Permits assignment of the Active Employee Death Benefit (ranging from $25,000 to $50,000) and the Contributory Death Benefit ($10,000 for retired members after 24 months of contributions) to funeral expenses with any balance refundable to the beneficiary.

Allows assignment of death benefits in the Local Governmental Employees' Retirement System, which include accumulated contributions plus final compensation for in-service deaths.

Extends the assignability provision to separate insurance benefits for law enforcement officers under G.S. 143-166.60.

Effective upon passage and applies to all benefits payable on or after the enactment date.