UTAH CODE (Last Updated: January 16, 2015) |
Title 49. Utah State Retirement and Insurance Benefit Act |
Chapter 12. Public Employees' Contributory Retirement Act |
Part 4. Defined Benefit |
§ 49-12-404. Lump-sum death benefit for retiree and spouse.
Latest version.
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(2) (a) For a retiree who pays for a lump-sum death benefit under this section through a reduction of an allowance, benefits shall be paid in accordance with Sections 49-11-609 and 49-11-610. (b) If the retiree chooses Option Three, Four, Five, or Six, and a lump-sum death benefit is payable after the death of the retiree, the allowance shall be restored to its original amount. (3) (a) A retiree whose retirement date is on or after July 1, 1995, may elect to cancel the lump-sum death benefit under this section. (b) The cancellation under this Subsection (3) is irrevocable. (c) Upon cancellation, the allowance shall be restored to its original amount and benefits under this section may not be paid.
Amended by Chapter 118, 2004 General Session