Cal. Gov. Code § 31763
Optional Retirement Allowances
Redline — January 1, 2011 → current.View current text →
Current — January 1, 2023
As of January 1, 2011
Optional settlement 3 consists of the right to elect in writing to have a retirement allowance paid him or her until his or her death, and thereafter to have one-half of his or her retirement allowance paid to the person, having an insurable interest in his or her life, as he or she nominates by written designation duly executed and filed with the board at the time of his or her retirement.
Optional settlement 3 consists of the right to elect in writing to have a retirement allowance paid to the member until the member’s death, and thereafter to have one-half of the member’s retirement allowance paid to the natural person, having an insurable interest in the member’s life, as the member nominates by written designation duly executed and filed with the board at the time of the member’s retirement.
Official source: California Legislative Information. Reproduced from public-domain California statutes; confirm against the official source for the current text. Not legal advice.