2006 Utah Code - 49-18-502 — Benefits payable upon death of retired member.

     49-18-502.   Benefits payable upon death of retired member.
     (1) (a) The death benefit payable to a retiree's spouse at the time of death is an allowance equal to 65% of the allowance which was being paid to the retiree at the time of death.
     (b) The effective date of the accrual of this allowance is the first day of the month following the month in which the retiree died.
     (2) (a) At the time of retirement, a retiree may elect to increase the spousal death benefit up to 75% of an allowance computed in accordance with Section 49-18-402.
     (b) The member's allowance shall be reduced to an amount payable monthly for life to reflect the actuarial equivalent necessary to pay for the increased spousal death benefit above 65%.

Renumbered and Amended by Chapter 250, 2002 General Session