Kinsey introduces legislation to clarify pension beneficiaries
HARRISBURG, July 15 – State Rep. Stephen Kinsey, D-Phila., has introduced legislation to clarify pension beneficiaries.
State employees, educators and municipal workers may designate beneficiaries for their pensions under the State Employees, Public School Employees and Pennsylvania Municipal retirement systems. While many individuals choose their spouse, children or other family members as their beneficiaries, some may wish to designate a nonprofit organization. Current statutory definitions do not make it absolutely clear that pension beneficiaries may include nonprofits.
To clarify this uncertainty, Kinsey is introducing legislation that would clarify that a nonprofit organization may be designated as a pension beneficiary for municipal employees, as well as state and public-school employees.
“Folks work hard for their pension, and they should be able to make their beneficiary whomever they want,” Kinsey said. “The way this law is currently written can be confusing for citizens across the commonwealth. My legislation is aimed at providing clarity to allow hard-working citizens to make the best decision in identifying their pension beneficiaries.”