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BILL AS INTRODUCED 2007-2008

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H.401

Introduced by Representative Atkins of Winooski

Referred to Committee on

Date:

Subject:  State employees; retirement; life insurance death benefit

Statement of purpose:  This bill proposes to increase the retired state employee life insurance death benefit.

AN ACT RELATING TO INCREASING THE RETIRED STATE EMPLOYEE LIFE INSURANCE DEATH BENEFIT

It is hereby enacted by the General Assembly of the State of Vermont:

Sec. 1.  3 V.S.A. § 479(a)(2) is amended to read:

(2)  members who have completed 20 years of creditable service at their effective date of retirement shall be entitled to the continuation of life insurance in the amount of $5,000.00 $10,000.00.

Sec. 2.  3 V.S.A. § 631(a)(9) is amended to read:

(9)  The amount of life insurance for any retired employee shall be reduced and limited to $5,000.00 $10,000.00 on the date of his or her retirement.  The provisions of this section shall apply to all retirees who complete 20 creditable years of service with the state before their retirement and are insured for group life insurance on their retirement dates.  The total premiums for group life insurance provided under this section and section 632 of this title shall be paid by the state on behalf of employees retired in accordance with the terms of subdivision (2) of this subsection, on behalf of employees who are on sick leave without pay for a period not to exceed twelve 12 months and on behalf of any employee on disability retirement until proof of total and permanent disability has been accepted by the insurance company.



Published by:

The Vermont General Assembly
115 State Street
Montpelier, Vermont


www.leg.state.vt.us