STATEHOUSE-Rep. Suzanne Crouch (R-Evansville) announced that the governor has officially signed into law her bill to give 1977 police and firefighter pensions an additional beneficiary. The bill will allow members of the 1977 Police Officers' and Firefighters' Pension and Disability Fund to designate one or more beneficiaries to receive the 1977 fund member's contributions plus interest. There are two stipulations to the bill: first, the bill provides that if the fund member dies without receiving retirement and disability benefits then the beneficiary receives the benefits. Second, if a member does not have a spouse, child or parent entitled to receive survivor benefits, then the member can pick another beneficiary of their choice.
The bill will also provide that if a member does not designate a beneficiary, the member's contributions and accumulated interest shall be refunded to the member's estate. "Sometimes it is the little things that make a big difference and that most certainly is the case for the police and firefighter pension fund," Rep. Crouch said. "By adding an additional beneficiary the bill will make sure police and firefighters can designate someone special to them to receive their benefits. Police and firefighters take care of us on a daily basis, so we need to make sure we're taking care of them." |
