A member may designate one or more persons as beneficiaries. If more than one person is designated under an optional settlement involving life contingency of the beneficiary, the member will be deemed to have elected such optional settlement on an equal portion of his allowance independently for each beneficiary.
Cal. Gov. Code § 9361.15
Optional Settlements
Known as the Legislators’ Retirement Law
The act spans §§ 9350–9378 (120 sections).
Added by Stats. 1967, Ch. 1716.
Official source: California Legislative Information. Reproduced from public-domain California statutes; confirm against the official source for the current text. Not legal advice.