This bill would amend several provisions relating to the collection of membership dues, fines, and fees relating to the Superior Court Clerks’ Retirement Fund. Members will be assessed a late charge if membership dues remain unpaid for 60 days (previously 90 days) from the due date. Members will not receive creditable service for any month in which dues are in arrears on the last day of the calendar year payments are due. 

The bill also changes the time frame that the authority responsible for collecting payments for the Superior Court Clerks’ Retirement Fund to remit payments to the Fund from a quarterly basis to monthly basis. These payments will be due on the first of the month, but will be considered timely if received by the 15th day of the month following the month in which the payments were collected. The payments will be considered late if they are not remitted to the Fund within 60 days of the date on which such remittal is due, and penalties will be imposed. 

Finally, this bill authorizes the Board to establish a rule or regulation authorizing certain surviving spouses to receive benefits in the event the member dies prior to retirement, provided the member satisfied all requirements for retirement except for being 55 years old. If such rule or regulation is established, the surviving spouse would receive a monthly sum during his or her lifetime that is not greater than 50% of the amount the member would have received. The actual percent will be set by the Board of Trustees.