Common use of PERS DEATH BENEFIT Clause in Contracts

PERS DEATH BENEFIT. All employees are eligible for a basic death benefit through the Public Employees’ Retirement System (PERS) if they should die before retirement. If an employee is not eligible to retire at the time of death (under age fifty [50] or less than five [5] years of credited service), the employee’s beneficiary will receive a refund of the employee’s contributions with interest and an additional sum of one (1) month’s salary rate for each year of current service to a maximum of six (6) months salary.

PERS DEATH BENEFIT. All employees are eligible for a basic death benefit through the Public Employees’ ' Retirement System (PERS) if they should die before retirement. If an employee is not eligible to retire at the time of death (under age fifty [50] or less than five [5] years of credited service), the employee’s 's beneficiary will receive a refund of the employee’s 's contributions with interest and an additional sum of one one (1) month’s 's salary rate for each year of current service to a maximum of six (6) months salary.