2011 California Code
Government Code
TITLE 2. GOVERNMENT OF THE STATE OF CALIFORNIA [8000 - 22980]
CHAPTER 11. Benefits
Section 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.
(Added by Stats. 1998, Ch. 820, Sec. 11. Effective September 25, 1998.)
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