Section 5-10.2-3-7.6 - Survivor benefits of member with 30 years creditable service(a) This section applies to the surviving spouse and the surviving dependent of a member who: (1) dies after June 30, 1996, and before July 1, 2018;(2) has at least thirty (30) years of creditable service; and(3) dies in service in a position covered by the fund.(b) If a member described in subsection (a) dies with a surviving spouse who was married to the member for at least two (2) years, the board may determine that the surviving spouse is entitled to a survivor benefit equal to the monthly benefit that would have been payable to the spouse under the joint and survivor option of IC 5-10.2-4-7 upon the member's death following retirement at: (1) fifty-five (55) years of age; or(2) the actual date of death; whichever is later. However, benefits payable under this section are subject to section 7.5(g) and 7.5(i) of this chapter.
(c) If a member described in subsection (a) dies without a surviving spouse who was married to the member for at least two (2) years, but with a surviving dependent, the board may determine that the surviving dependent is entitled to a survivor benefit in a monthly amount equal to the actuarial equivalent of the monthly benefit that would have been payable to the spouse (assuming the spouse would have had the same birth date as the member) under the joint and survivor option of IC 5-10.2-4-7 upon the member's death following retirement at: (1) fifty-five (55) years of age; or(2) the actual date of death; whichever is later. If there are two (2) or more surviving dependents, the actuarial equivalent of the benefit described in this subsection shall be calculated and, considering the dependents' attained ages, an equal dollar amount shall be determined as the monthly benefit to be paid to each dependent. Monthly benefits under this subsection are payable until the date the dependent becomes eighteen (18) years of age or dies, whichever is earlier. However, if a dependent has a permanent and total disability (using disability guidelines established by the Social Security Administration) on the date the dependent becomes eighteen (18) years of age, the monthly benefit is payable until the date the dependent no longer has a disability (using disability guidelines established by the Social Security Administration) or dies, whichever is earlier. Benefits payable under this section are subject to section 7.5(g) and 7.5(i) of this chapter.
Amended by P.L. 199-2019,SEC. 2, eff. 7/1/2019.As added by P.L. 35-1996, SEC.2. Amended by P.L. 99-2007, SEC.16; P.L. 113-2009, SEC.2.