§ 5-10-5.5-16 — Survivors' benefits; death before February 1, 2018; amount

Indiana § 5-10-5.5-16

• Jurisdiction: Indiana
• Title 5: STATE AND LOCAL ADMINISTRATION
• Art. 10: PUBLIC EMPLOYEE BENEFITS
• Ch. 5.5: State Excise Police, Gaming Agent, Gaming Control

Text

(a) This section applies to participants who
die before February 1, 2018.
(b) Benefits provided under this section are subject to section 2.5 of
this chapter.
(c) A surviving mother or father nominated by the participant to
receive survivors' benefits under the provisions of this chapter shall be
entitled to an annual survivors' allowance for life equal to fifty percent
(50%) of the amount the participant would have been entitled to if the
participant had retired.
(d) A surviving spouse nominated by the participant to receive
survivors' benefits under the provisions of this chapter shall be entitled
to an annual survivors' allowance equal to fifty percent (50%) of the
amount the participant would have been entitled to if the participant
had retired. In the case of a surviving spouse who is more than five (5)
years younger than the deceased participant at the time of the
participant's death, the amount of the annual survivors' allowance shall
be reduced actuarially, without regard to the sex of the spouse or the
participant. In all cases the survivors' allowance to a surviving spouse
shall cease with the last payment prior to the surviving spouse's death.
(e) A surviving child eligible and nominated by the participant to
receive survivors' benefits under the provisions of this chapter shall be
entitled to an annual survivors' allowance equal to fifty percent (50%)
of the amount the participant would have been entitled to if the
participant had retired. If more than one (1) surviving child is eligible
and nominated to receive survivors' benefits, the annual allowance shall
be divided equally between or among such children. In all cases, the
survivors' allowance to a child shall cease when the child attains the
age of eighteen (18) years or marries, whichever occurs first. Where a
survivors' allowance is divided between or among more than one (1)
child, and payments to one (1) or more children cease, the total annual
allowance payable shall be divided evenly among or between such of
the remaining children who are eligible therefor.
(f) In the event that no nomination is made by an eligible
participant, or in the event that the nominated survivor predeceases the
participant and no contingent survivor is nominated and an eligible
participant dies, no survivors' allowance shall be payable. In such case,
the board shall make a lump sum payment to the estate of the deceased
participant equal to the total of all funds standing to the credit of the
participant in the participant's savings fund plus accumulated interest
thereon.
(g) A survivor's allowance under this section that was terminated
because of a surviving spouse's remarriage shall be reinstated on July
1, 1997, and continue during the life of the surviving spouse.
Formerly: Acts 1972, P.L.1, SEC.1; Acts 1975, P.L.21, SEC.3.
As amended by P.L.55-1989, SEC.6; P.L.40-1997, SEC.1; P.L.6-2020,
SEC.4.