Increases the Public School Retirement System (PSRS) one-time death benefit payment to $10,000 for retiree member deaths arising on or after August 28, 2026

This bill increases the one-time death benefit payment for public school retirees from the current amount to $10,000. The change applies to retiree members who pass away on or after August 28, 2026, and directly affects the Public School Retirement System (PSRS). The legislation modifies the existing law to specify this new payment amount for eligible deceased members, without altering other retirement benefit calculations or survivor options. The bill is currently in the legislative process and has been referred to the Pensions committee for further review.