SB 5655 - DIGEST

     Provides that any member who retired before January 1, 1996, and who elected to receive a reduced retirement allowance is entitled to receive a retirement allowance equal to the standard allowance, adjusted for any cost-of-living or other postretirement adjustments made to the original allowance since the effective date of retirement, if:  (1) The retiree designated the retiree's spouse as beneficiary under the reduced retirement allowance option;

     (2) the retiree's spouse has predeceased the retiree; and

     (3) the retiree gives written notice to the department of the retiree's election to convert to the standard allowance under this subsection.