2009 California Government Code - Section 22960.85-22960.92 :: Chapter 11. Benefits

22960.85.  (a) Upon separation from all service for the employer for
any reason other than death, disability, or retirement, a
participant is entitled to a lump-sum distribution of the balance of
his or her account as of the first valuation date immediately
following the date of the application.
   (b) Application for a distribution for termination of employment
shall be made on an application form prescribed by the board. Any
participant who is entitled to a distribution that equals or exceeds
five thousand dollars ($5,000), may elect on the application form to
receive the distribution in one of the following forms:
   (1) A single lump-sum payment.
   (2) Substantially level installment payments for a period of years
that extends no longer than the life expectancy of the participant.
   (c) The employer shall certify on a form prescribed by the board
that the participant's employment has terminated.
   (d) No partial distribution shall be made from the participant's
account.
   (e) The participant is deemed to have permanently waived all
rights to a retirement benefit when the distribution becomes
effective.

22960.86.  (a) Upon separation from all service for the employer, a
participant may apply for a retirement benefit, provided the
retirement date is no earlier than the date on which the participant
attains the normal retirement age. The retirement benefit is a
distribution of the balance of the participant's account as of the
first valuation date immediately following the date of the
application.
   (b) Application for a retirement benefit shall be made on an
application form prescribed by the board.
   (c) The employer shall certify on a form prescribed by the board
that the participant's employment has terminated.

22960.87.  (a) A disability benefit shall become payable to a
participant only upon the participant's separation from all service
for the employer and upon a determination by the board that the
participant has a disability pursuant to Section 21156. The
disability benefit is a distribution of the balance of the
participant's account as of the first valuation date immediately
following the date of the application.
   (b) Application for a disability benefit shall be made on an
application form and in the manner prescribed by the board.
   (c) The employer shall certify on a form prescribed by the board
that the participant's employment has terminated.

22960.88.  (a) Upon receipt of proof of a participant's death, the
beneficiary or beneficiaries shall be entitled to a death benefit
that is a lump-sum distribution of the balance remaining in the
participant's account.
   (1) If the participant died prior to termination of employment or
distribution of all of the contributions and earnings credited to the
participant's account, the lump-sum distribution shall be an amount
that is equal to the balance remaining in the participant's account.
   (2) If the participant died while receiving a periodic payment,
any remaining payments shall be paid to the beneficiary under the
same schedule until there is no balance remaining in the participant'
s account.
   (b) Application for the distribution shall be made on an
application form prescribed by the board.

22960.89.  Any participant who is entitled to a distribution for
retirement or disability that equals or exceeds five thousand dollars
($5,000), may elect to receive the distribution in one of the
following forms:
   (a) A single lump-sum payment.
   (b) Substantially level installment payments for a period of years
that extends no longer than the life expectancy of the participant.
   (c) A single life annuity.
   (d) A joint and survivor annuity for the lifetimes of the
participant and the participant's option beneficiary.

22960.90.  A beneficiary who is the spouse of the participant and
who is entitled to a distribution that equals or exceeds five
thousand dollars ($5,000), may elect to receive the distribution in
one of the following forms:
   (a) A single lump-sum payment.
   (b) Substantially level installment payments for a period of years
that extends no longer than the life expectancy of the beneficiary.
   (c) A single life annuity.

22960.91.  A beneficiary who is not the spouse of the participant,
and who is entitled to a distribution that equals or exceeds five
thousand dollars ($5,000), may elect to receive the distribution in
one of the following forms:
   (a) A single lump-sum payment.
   (b) Substantially level installment payments for a period not to
exceed five years.

22960.92.  The board may contract with an insurance, annuity, mutual
fund, or any other qualified company to provide annuities to
participants pursuant to Section 22960.89, to beneficiaries pursuant
to Section 22960.90, and to nonparticipant spouses pursuant to
Section 22960.79.