2704 - CalPERS 1959 Survivor Benefit Program (Historical View)
** Effective: 6/20/2017 5:09:29 PM - 1/10/2018 11:16:59 AM **Status: Active
Change Notes
Updated the 2017-18 Premium Rate
Category
Retirement
Audience List
- Employee Relations Officers
- Personnel Officers
- Personnel Transactions Staff
- Personnel Transactions Supervisors
Synopsis
This policy:
- Provides the 1959 Survivor Benefit Program Eligibility
- Provides the 1959 Survivor Premium Rate for Fiscal Year 2017-18
- Provides the 1959 Survivor Rate Determination
Introduction
The 1959 Survivor Benefit Program, 5th Level is administered by the California Public Employee’s Retirement System (CalPERS). This program provides a monthly allowance to eligible survivors of CalPERS members who are not covered by Social Security and dies prior to retirement.
The purpose of this policy is to outline the most current 1959 Survivor Benefit Program eligibility and premium rates for state employees and employers.
Statement
Eligible Members
State employees who are in classes or positions designated state safety, peace officer/firefighter, and patrol are subject to the 1959 Survivor Benefit Program, 5th Level. State employees who are eligible for this program are automatically enrolled upon appointment to the eligible class or position.
2017-18 Premium Rates
On April 19, 2017, the total monthly premium rate approved by CalPERS Board of Administration is $10.40. State employees and employers will pay a monthly premium rate of $5.20 for Fiscal Year 2017-18.
Rate Determination
The state employee and employer monthly premium rates are determined annually by CalPERS actuarial staff and requires approval by CalPERS Board of Administration prior to implementing any premium rate changes.
Pursuant to CalPERS law, Government Code section 21581(c), the contribution for state employees may be $2.00 per month as long as the combined employee and employer cost for this benefit is $4.00 per month. If the total cost of this benefit exceeds $4.00 per month, the employer and employee shall share equally the cost of the benefit.
The State Controller’s Office will implement the contribution rate changes for all state employees subject to the 1959 Survivor Benefit Program upon receiving notice from CalPERS and CalHR.
Application
Departments should notify state employees of the premium rate changes upon receiving notice from CalHR and CalPERS.
Authorities
Resources
PML
- PML 2016-015: PML 2016-015 - 6/3/2016 - 1959 Survivor Benefit Program Rate Decrease Effective July 2016
Related Policies
- 2701: CalPERS Contribution Rates and Benefit Formulas
- 2702: State Safety Retirement
- 2703: Peace Officer/Firefighter Retirement (POFF)
Web Pages
- 1959 Survivor Benefit Program: CalPERS 1959 Survivor Benefit Program Information and Publication
- CalPERS Circular Letters: List of CalPERS Circular Letters
Authorized By
Desi Rodrigues
Program Manager,
Benefits Division
Contact Person
Desi Rodrigues
Program Manager,
, Retirement Policy
Phone: 916-324-9400
Fax: 916-322-3769
Email: desi.rodrigues@calhr.ca.gov