SB 1109 Summary

• Allows retired teachers who remarry after their spouse's death to change their retirement benefit option and name the new spouse as beneficiary, provided they remarry within three years and pass a medical examination.

• Requires retired teachers making such changes to provide proof of good health through a licensed physician examination approved by the Medical Board and proof of age for the new beneficiary.

• Authorizes the Board of Trustees to adjust the monthly retirement benefit to an actuarially equivalent amount based on the new designated beneficiary's age.

• Requires the Board of Trustees to promulgate rules implementing the provisions allowing postretirement remarriage benefit modifications.

• Effective July 1, 2013, with an emergency clause declaring immediate effect upon passage and approval.