California Government Code ARTICLE 6 - Optional Settlements Prior to January 1, 2018

• Section 21450.
  This system shall provide to any member who requests materials relating to retirement, a written explanation of the effects, if any, of each possible decision...
• Section 21451.
  In lieu of the retirement allowance for his or her life alone, a member or retired member may elect, or revoke or change a previous...
• Section 21452.
  The lesser retirement allowance under an optional settlement elected at retirement for law enforcement members whose retirement is effective prior to October 1, 1965, and...
• Section 21453.
  An election, revocation, or change of election shall be made within 30 calendar days after the making of the first payment on account of any...
• Section 21454.
  Notwithstanding Section 21453, an election of optional settlement 2 or 3, or optional settlement 4 involving life contingency in which a spouse is designated as...
• Section 21455.
  Optional settlement 1 consists of the right to have a retirement allowance paid to the member until his or her death and if the member...
• Section 21456.
  Optional settlement 2 consists of the right to have a retirement allowance paid to a member until his or her death and thereafter to his...
• Section 21457.
  Optional settlement 3 consists of the right to have a retirement allowance paid to a member until his or her death, and thereafter to have...
• Section 21458.
  Optional settlement 4 consists of such other benefits as are the actuarial equivalent of a member’s retirement allowance, that he or she may select subject...
• Section 21459.
  A member who elects to receive optional settlement 2 or 3 may concurrently and irrevocably elect to waive the provision for an increase to his...
• Section 21460.
  A member who elects to receive the unmodified allowance or optional settlement 1, or optional settlement 2, 3, or 4 with or without making the...
• Section 21461.
  (a) A member retiring for service may elect to have the actuarial equivalent of his or her unmodified service retirement allowance paid in two parts as...
• Section 21461.5.
  (a) Notwithstanding Section 21461, a member retiring for service who became a member of the system on or after January 1, 2002, and who is covered...
• Section 21462.
  (a) (1) Notwithstanding any other provision of this part, a member who elected to receive optional settlement 2, 3, or 4, involving a life contingency of the...
• Section 21463.
  A member who elected to receive optional settlement 2 or 3 and whose beneficiary predeceases him or her, shall be entitled to receive the increased...
• Section 21464.
  Notwithstanding any provision of this part, a retired member who chose no optional settlement or optional settlement 1 at retirement may elect to have the...
• Section 21465.
  (a) Optional settlement 5 consists of a partial distribution of the actuarial present value of the portion, as specified in this section, of the member’s unmodified...

Last modified: October 22, 2018