NC H1099

Establishes a new alternate survivor benefit option for members of the Consolidated Judicial Retirement System who earned their first membership service credit on or after July 1, 2023, allowing beneficiaries to elect a reduced retirement allowance instead of a lump-sum return of accumulated contributions.

Allows eligible beneficiaries to receive a retirement allowance computed as if the member retired on the first day of the month following death, provided the member had attained retirement eligibility or 16 years of service and met four specified conditions.

Provides a $50,000 death benefit payable apart from accumulated contributions for members who earned first membership credit on or after July 1, 2023, completed at least one full calendar year of membership, and were in service at death.

Defines "in service" status as death occurring within 180 days from the last date of actual service, including provisions for absent members' leave expiration and military service interruptions.

Takes effect July 1, 2022, making survivor benefits under the judicial retirement system comparable to those available under the Teachers' and State Employees' Retirement System.