Title 5, Title 5

1. Information from fiscal officer. Before a participating local district elects survivor benefits under section 18553 or 18556, the chief fiscal officer of the participating local district shall submit to the board that information prescribed by the board to assist the board in …

As used in this article, unless the context otherwise indicates, the following terms have the following meanings. [PL 2009, c. 513, §1 (RPR); PL 2009, c. 513, §3 (AFF).] 1. Professional firefighter. "Professional firefighter" means an employee of a municipal fire department who i…

The beneficiary of a qualifying member shall receive a benefit in accordance with section 18603.

1. Surviving spouse; no dependent children. If the qualifying member is survived by a spouse and no dependent child, the surviving spouse shall be paid 2/3 of the average final compensation of the qualifying member. 2. Surviving spouse having care of dependent children. If the qu…

All benefits paid under this article shall be paid in equal monthly installments beginning the first month after the death of the qualifying member.

1. Cessation of eligibility. When a person sharing benefits under section 18603 ceases to be eligible to receive benefits, the subsequent benefits of the remaining beneficiaries shall be recalculated as if the remaining beneficiaries had been the only beneficiaries to survive the…

The benefits under this article shall be paid to: [PL 1985, c. 801, §§5, 7 (NEW).] 1. Surviving spouse. The surviving spouse until the surviving spouse dies; and 2. Dependent children. The dependent child or dependent children until they die or until they no longer meet the defin…

The board, and only the board, may purchase for the retirement system, from one or more life insurance companies, a policy or policies of life insurance, as defined by Title 24-A, section 702. [PL 1985, c. 801, §§ 5, 7 (NEW).] 1. Procedure. Proposals for the purchase of insurance…

1. Limitation. All provisions of a policy or policies purchased under section 18651 shall be subject to the limitations of Title 24-A, chapter 31. 2. No reduction of benefits. No provisions of a policy or policies purchased under section 18651 may reduce the benefits granted unde…

The board may promulgate and publish, in accordance with chapter 375, subchapter II, whatever rules are necessary and proper to give effect to the intent, purposes and provisions of this subchapter.

All assets in the group life insurance program may be combined for investment purposes. The assets attributable to employers of participating local district participants in the group life insurance program may not be combined with the assets attributable to other group life insur…

1. Expenses. All expenses of a group life insurance program shall be reimbursed from premium rate adjustments, dividends or interest earnings on reserves. 2. Report. A report of the activities of the group life insurance program shall be published annually.

1. Local district. A local district may participate in the group life insurance program by filing with the board a duly certified copy of the resolution or record of the vote of the body that would be entitled to approve participation in the Participating Local District Retiremen…

1. Basic insurance. Life insurance and accidental death and dismemberment insurance, to be known as "basic insurance," is available to all eligible participants. A. The amount of life insurance to be paid upon death is equal to the participant's annual base compensation rounded u…

Any amount of group life insurance and group accidental death insurance in force on any employee at the date of the employee's death must be paid, upon the establishment of a valid claim, in the following order of precedence. [PL 2009, c. 515, §2 (AMD); PL 2009, c. 515, §3 (AFF).…

1. Employees insured. Each employee shall complete an application for insurance coverage within 31 days of becoming eligible. Each employee who completes an application and is found eligible for basic insurance under this subchapter is insured for the amount of basic coverage app…

Payment of premiums for group life insurance shall be on the basis determined by the board to be actuarially sufficient to pay anticipated claims.

1. Separation from service. The insurance on any employee must terminate upon the employee's separation from service, except as extended by: A. Provisions contained in the policy for waiver of premiums upon total and permanent disability; and [PL 1985, c. 801, §§5, 7 (NEW).] B. P…

The employees of any local district may participate in the group life insurance program to the full extent of any and all benefits provided for in this subchapter subject to section 18655, subsections 1 and 2. The participation of these employees is governed as follows. [PL 1985,…

Any local district participating in the group life insurance program under this subchapter may withdraw from further participation by filing with the board a duly certified copy of the results of the vote of the body that would be entitled to approve participation in the Particip…

The board may offer long-term disability insurance coverage to members and employees who choose not to become members but participate in the defined contribution plan pursuant to section 18801, subsection 1 through their employer and may contract with one or more insurance compan…