Permits TPAF and PERS retirees to change named beneficiary upon death of previously named beneficiary.

This bill allows retirees from the Teachers' Pension and Annuity Fund and the Public Employees' Retirement System in New Jersey to update their beneficiary names if their originally chosen recipient dies before them. It amends existing state laws to ensure that members can nominate a new person to receive survivor benefits, such as lump sums or annuities, after the initial designated beneficiary passes away. The change applies to various benefit options available to retirees, ensuring flexibility in designating who receives payments after the retiree's death.