STATEHOUSE-Rep. Suzanne Crouch (R-Evansville) co-sponsored Senate Bill (SB) 172 to enable disabled police officers and firefighters the ability to decide where their pension money goes. The bill passed the House yesterday by a 93-0 vote. SB 172 would allow members of the 1977 Police Officers' and Firefighters' Pension and Disability Fund to designate one or more beneficiaries to receive the 1977 fund 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. "It's important for people who have provided a community service to have the opportunity to decide where their pension money goes and who should receive it in case the individual were to pass away," said Rep. Crouch. "These people have earned the right to designate where and to whom the benefits they have earned are dispersed." The bill also would provide that if a member doesn't designate a beneficiary, the member's contributions and accumulated interest shall be refunded to the member's estate. |
