Common use of Survivors Benefits Clause in Contracts

Survivors Benefits. 1. The retirement benefits shall include Fourth Level of 1959 Survivor Benefits under Section 21382.4 of the California Government Code and Post-Retirement Survivor Allowance to Continue After Remarriage under Section 21266 of the California Government Code. The cost of this benefit will be paid by the employees. To the extent that the miscellaneous employees’ surplus, held at PERS, is available to xxxxx the cost payment, then this cost will be paid from such funds. Any amount in excess of the 2001-2002 rate not covered by the surplus will be paid by the employees. The Fourth Level 1959 Survivor Benefit provides a monthly allowance to eligible survivors of members who are covered by this benefit program and die before retirement. The Post-Retirement Survivor Allowance consists of a monthly allowance that automatically continues to an eligible survivor following the retiree’s death regardless of the retirement option selected.