The annuity elected under this chapter shall be determined as a value actuarially equivalent to the sum of the participant’s employee account and employer account as of the date the death benefit becomes payable. The annuity shall be calculated using the age of the beneficiary on the date the benefit becomes payable.
Cal. Educ. Code § 27005
Death Benefit
Added by Stats. 1995, Ch. 592, Sec. 16
Official source: California Legislative Information. Reproduced from public-domain California statutes; confirm against the official source for the current text. Not legal advice.