2704 - CalPERS 1959 Survivor Benefit Program (Historical View)

Status: Active

Change Notes

Added related policies.

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 2016-17
• 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.

2016-17 Premium Rates

On April 20, 2016, the total monthly premium rate approved by CalPERS Board of Administration is $10.30.  State employees and employers will pay a monthly premium rate of $5.15 for Fiscal Year 2016-17.

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

• Government Code section 21574.7
• Government Code section 21581

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

Superseded Policies