Optional settlement 1 consists of the right to have a retirement allowance paid him or her until his or her death and if he or she dies before he or she receives in annuity payments the amount of his or her accumulated contributions at retirement, to have the balance at death paid to his or her beneficiary or estate.
Cal. Gov. Code § 21455
Optional Settlements
Showing this section's text as in effect on January 1, 2011 (in force January 1, 2011 – January 1, 2017). View current text →
Official source: California Legislative Information. Reproduced from public-domain California statutes; confirm against the official source for the current text. Not legal advice.