SB1109 Summary

• Allows retired teachers under the Teachers' Retirement System to modify their retirement benefits if they remarry after their spouse (designated beneficiary under Option 2 or 3) dies.

• Requires remarried retirees to provide proof of good health (medical examination by licensed physician approved by Medical Board) and proof of age for new spouse before benefit modification is permitted.

• Permits retirees to elect a different retirement option and name new spouse as designated beneficiary within three years of remarriage, with Board of Trustees adjusting monthly benefit to actuarially equivalent amount based on new beneficiary's age.

• Directs Board of Trustees to promulgate rules implementing these provisions for postretirement remarriage modifications.

• Effective July 1, 2013, with emergency declaration for immediate implementation.