2005 California Education Code Sections 25009-25011 Article 3. Retirement Benefits

25009.  (a) A member's retirement benefit under the Defined Benefit
Supplement Program shall be an amount equal to the balance of credits
in the member's Defined Benefit Supplement account on the date the
retirement benefit becomes payable.
   (b) A retirement benefit shall be a lump-sum payment, or an
annuity payable in monthly installments, or a combination of both a
lump-sum payment and an annuity, as elected by the member on the
application for a retirement benefit.  Any retirement benefit paid as
an annuity under this chapter shall be subject to Section 25011.
   (c) Upon distribution of the entire retirement benefit in a
lump-sum payment, no other benefit shall be payable to the member or
the member's beneficiary under the Defined Benefit Supplement
Program.
25010.  (a) A member who meets the following eligibility
requirements shall receive a retirement benefit under the Defined
Benefit Supplement Program:
   (1) The member has terminated all employment to perform creditable
service subject to coverage by the plan.  The member's employer, or
employers if the member has multiple employers, shall certify on a
form prescribed by the system that the member's employment has been
terminated.
   (2) The member has retired for service under the Defined Benefit
Program pursuant to Chapter 27 (commencing with Section 24201).
   (b) A member shall submit an application for a retirement benefit
on a form prescribed by the system.
25011.  (a) A member or nonmember spouse may elect to receive the
retirement benefit as an annuity payable in monthly installments,
provided the balance of credits in the member's or nonmember spouse's
respective Defined Benefit Supplement account on the date the
retirement benefit becomes payable equals at least three thousand
five hundred dollars ($3,500) after any lump-sum payments have been
made from the account.
   (b) If the member elects to receive the retirement benefit as an
annuity, the member shall elect one of the following forms of
payment:
   (1) A single life annuity without a cash refund feature.  This
form of payment is the actuarial equivalent of the amount that would
be payable to the member if the member elected to receive the
retirement benefit in a lump-sum payment.  Upon the death of the
member, no other benefit shall be payable to the member's beneficiary
under the Defined Benefit Supplement Program.
   (2) A single life annuity with a cash refund feature.  This form
of payment is the actuarial equivalent of the amount that would be
payable to the member if the member elected to receive the retirement
benefit in a lump-sum payment.  Upon the death of the member, an
amount equal to the remaining balance, if any, of credits transferred
from the member's Defined Benefit Supplement account to the
Annuitant Reserve shall be returned in a lump-sum payment to the
member's beneficiary.
   (3) A 100-percent joint and survivor annuity with a "pop-up"
feature.  This form of payment is the actuarial equivalent of the
lump-sum payment modified to be payable over the combined lives of
the member and the member's annuity beneficiary.  Upon the death of
the member, the same monthly amount that was payable to the member
shall be paid monthly to the member's surviving annuity beneficiary.
However, if the annuity beneficiary predeceases the member, the
annuity payable to the member shall be the single life annuity with a
cash refund feature that would have been payable had the member
selected that form of payment at the commencement of the benefit.
That single life annuity shall be payable as of the day following the
date of the annuity beneficiary's death upon receipt by the system
of proof of the annuity beneficiary's death.  If the annuity
beneficiary predeceases the member, the member may designate a new
annuity beneficiary.  The effective date of the new designation shall
be six months following the date notification, on a properly
executed form, is received by the board, provided both the member and
the new designated annuity beneficiary are then living.  The
selection of the new annuity beneficiary under this paragraph is
subject to an actuarial modification of the single life annuity with
a cash refund feature.  A member may not designate a new annuity
beneficiary if that designation would result in any additional
liability to the fund.
   (4) A 50-percent joint and survivor annuity with a "pop-up"
feature.  This form of payment is the actuarial equivalent of the
lump-sum payment modified to be payable over the combined lives of
the member and the member's annuity beneficiary.  Upon the death of
the member, one-half of the monthly amount that was payable to the
member shall be paid monthly to the member's surviving annuity
beneficiary.  However, if the annuity beneficiary predeceases the
member, the annuity payable to the member shall be the single life
annuity with a cash refund feature that would have been payable had
the member selected that form of payment at the commencement of the
benefit.  That single life annuity shall be payable as of the day
following the date of the annuity beneficiary's death upon receipt by
the system of proof of the annuity beneficiary's death.  If the
annuity beneficiary predeceases the member, the member may designate
a new annuity beneficiary.  The effective date of the new designation
shall be six months following the date notification, on a properly
executed form, is received by the board, provided both the member and
the new designated annuity beneficiary are then living. The
selection of the new annuity beneficiary under this paragraph is
subject to an actuarial modification of the single life annuity with
a cash refund feature.  A member may not designate a new annuity
beneficiary if that designation would result in any additional
liability to the fund.
   (5) A period certain annuity.  This form of payment is an annuity
equal to the actuarial equivalent of the balance of credits in the
member's Defined Benefit Supplement account on the date the
retirement benefit becomes payable.  The annuity shall be payable in
whole year increments over a period of years specified by the member,
from a minimum of three years to a maximum of 10 years.  However,
the annuity period may not exceed the life expectancy of the member,
or the life expectancy of the member and the member's annuity
beneficiary.  If the member's death occurs prior to the end of the
period certain, the remaining balance of payments shall be paid to
the member's annuity beneficiary pursuant to Section 25022.
   (c) If a nonmember spouse elects to receive the retirement benefit
as an annuity, the nonmember spouse shall elect the form of payment
specified in paragraph (1), (2), or (5) of subdivision (b) and, in
those paragraphs, references to a "member" shall apply to the
nonmember spouse.