NC S389

Establishes an open enrollment period from September 1, 2017, to December 1, 2017, for the Contributory Death Benefit for retired members of the Teachers' and State Employees' Retirement System, Consolidated Judicial Retirement System, Legislative Retirement System, and Local Governmental Employees' Retirement System.

Requires the Retirement Systems Division to send notice by U.S. mail to all retirees who previously declined or failed to elect this benefit, with a second notice sent to those not responding within 60 days.

Sets the contribution rate for retirees enrolling during this period at the rate they would have paid at retirement, increased by 12 percent.

Makes coverage effective the first day of the month following when the enrollment election is received, with contribution rates based on the retiree's nearest age at that effective date and deducted from monthly retirement payments.

Applies effective when the bill becomes law.