Laserfiche WebLink
<br />" <br /> <br />... <br /> <br />. <br /> <br />. <br /> <br />,\~, <br /> <br />· COST TO THE EHPLOYEE <br /> <br />Each employee will contribute ~;)2. 00 a month in addition to his normal retire- <br />ment contributions. He 'fill continue to pay this additional amount until either <br />termination of employment or retirement and under no circumstances will they be <br />refundable. <br /> <br />EFFiCTIVB DATE <br /> <br />These survivor benefits will become effective on (Date). <br />All present members of the System Hill be given the opportunity by 'tfritten ballot to <br />select this survivor coverage." Persons 't\Tho choose coverage 'toJill remain covered until <br />they terminate their employment or r~tire. IT IS NOT NOW P~lOVIDED that persons, who <br />do not choose coverage will be allowed to choose coverage at a later date. <br /> <br />For agencies not covered under OASDI all future en~loyees would be mandatorily <br />covered under this progranl. For agencies who are covered under OASDI all future <br />employees are mandatorily covered under OASDI and, therefore, are not eligible for <br />the SERS survivor benefits. <br /> <br />EXAMPLE <br /> <br />Under the SERS survivor program, if a member passes away before retirement <br />leaving a widow and four children, the widow would receive a monthly income of ~p250 <br />until such time as the three oldest children have passed age 18 (so that she now only <br />has one child under the age of 18) at which time her benefit would be reduced to <br />$180. The ~:;180 would continue to be paid until the last child passes the age of 18 <br />at which time the payment would cease until the widow reaches the age of 62. She <br />would then receive $90 a month for the remainder of her lifetime. The widow ceases <br />to be eligible for her benefit when she remarries although benefits would continue <br />to any remaining children under the age of 18., <br /> <br />Ret. Form 1171-2 (8/66) 200 <br />