The annuity elected under this chapter shall be determined as a value actuarially equivalent to the sum of the participant’s employee account and employer account as of the date the death benefit becomes payable. The annuity shall be calculated using the age of the beneficiary on the date the benefit becomes payable.
(Added by Stats. 1995, Ch. 592, Sec. 16. Effective January 1, 1996.)
Last modified: October 25, 2018