SENATE BILL NO. 555
AN ACT TO AMEND CHAPTER 55, TITLE 29, DELAWARE CODE TO PROVIDE GROUP LIFE INSURANCE FOR STATE RETIREES.
BE IT ENACTED BY THE GENERAL ASSEMBLY OF THE STATE OF DELAWARE:
Section 1. Amend Chapter 55, Title 29, Delaware Code by adding a new section to read as follows:
"§5548. Group Life Insurance
Upon the death of an individual receiving a pension under this chapter the sum of $2,000 shall be paid from the Fund to his or her designated beneficiary or in the absence of a designated beneficiary the amount of this benefit shall be paid to the deceased pensioner's estate.
The benefit granted under this section shall not be construed as a contractual obligation of the State or of the Pension Fund and may be revised or terminated by an Act of the General Assembly."
Section 2. The effective date of this act shall be January 1, 1983.
Approved July 8, 1982.