SD.2500 An Act relative to Option (d) beneficiaries
This bill would change M.G.L. c. 32, § 12 to allow members of the retirement system to choose more than 1 beneficiary. Currently, pursuant to M.G.L. c. 32, § 12, members may choose Option D, Member Survivor Allowance. Option D states a member may nominate an eligible beneficiary (as set forth under Option C) who, if such member dies before being retired, shall receive the yearly amount of the Option C allowance to which such member would have been entitled had his or her retirement taken place on the date of his or her death. The Public Employee Retirement Administration Commission (PERAC) has determined that only 1 beneficiary can receive benefits under this provision. However, many active duty public safety personnel have multiple beneficiaries they would like to be able to leave a pension to (i.e., more than one child) in the event of an untimely death. This proposed change would allow members of the retirement system to choose more than 1 beneficiary.