ARTICLE 4. Preretirement Group Term Life Insurance

Article 4 added by Stats. 1995, Ch. 379, Sec. 2.

§§ 21600–21605 · 6 sections

• § 21600 (a) The purpose of this article is to provide group term life insurance benefits for members of this system who are employees of the state or the university.…
• § 21601 A separate account shall be established in the retirement fund to be known as the Insurance Benefits Account. Moneys in the account shall be expended for the…
• § 21602 (a) The board shall transfer annually on July 1 during any period of insurance from accumulated state contributions on account of current service to the…
• § 21603 An insured member, for purposes of this part, is a member of this system who is a state or university employee and whose death occurs under conditions…
• § 21604 The insurance benefit shall be paid upon death of an insured member of this system to the beneficiary entitled to receive the basic or special death benefit if…
• § 21605 The insurance benefit shall be the sum of the following amounts: (a) Five thousand dollars ($5,000). (b) An amount equal to 50 percent of the annual…