6166-S.E2 AMH  FRAS 71

2ESSB 6166 - H AMD

By Representative ___

     On page 4, line 29, strike "By" and insert "As soon as practical after"

     On page 6, line 4, after "retirees," insert "dependents,"

     On page 6, line 28, after "(4)" insert "The lump-sum defined benefit shall be paid to a retiree or eligible dependent or spousal survivor upon application to the department; however, no interest shall accumulate after the benefit is available to the retiree or eligible dependent or survivor.

     (5)"

     On page 6, line 31, strike "(5)" and insert "(6)"

     On page 6, line 33, strike "(6)" and insert "(7)"

     Correct any internal references.

     On page 7, line 20, strike "By" and insert "As soon as practical after"

     On page 8, line 4, strike "December 31" and insert "December 1"

     On page 8, line 7, after "retiree," insert "eligible dependent,"

EFFECT:  Retirees and eligible dependents and spousal survivors must apply to the Department of Retirement Systems in order to receive the lump-sum benefit.  Technical corrections are made to insert  omitted references to eligible dependents and to make timing of member notification and transfers to the Risk Pool Account and the State Surplus Assets Reserve Fund consistent with the effective date and other provisions of the bill.