California Government Code ARTICLE 7 - Optional Settlements On and After January 1, 2018

• Section 21470.
  This system shall provide to any member who retires on or after January 1, 2018, and requests materials relating to retirement, a written explanation of...
• Section 21471.
  (a) The unmodified allowance consists of the right to have the maximum retirement allowance paid to a member until his or her death. There is no...
• Section 21471.1.
  (a) In lieu of electing the unmodified allowance, a member may elect to have the actuarial equivalent of his or her unmodified allowance as of the...
• Section 21471.2.
  If a member elects an optional settlement that provides for a monthly allowance for his or her named beneficiary or beneficiaries, the combined allowance payable...
• Section 21472.
  (a) 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 21473.
  (a) Notwithstanding Section 21472, the election of an optional settlement in Section 21475, 21475.5, 21476, 21476.5, or 21477 in which a spouse is designated as the...
• Section 21474.
  (a) The Return of Remaining Contributions Option 1 consists of the right to have a retirement allowance paid to a member until his or her death...
• Section 21475.
  (a) The 100 Percent Beneficiary Option 2 consists of the right to have a retirement allowance paid to a member until his or her death, and...
• Section 21475.5.
  (a) The 100 Percent Beneficiary Option 2 with Benefit Allowance Increase consists of the right to have a retirement allowance paid to a member until his...
• Section 21476.
  (a) The 50 Percent Beneficiary Option 3 consists of the right to have a retirement allowance paid to a member until his or her death, and...
• Section 21476.5.
  (a) The 50 Percent Beneficiary Option 3 with Benefit Allowance Increase consists of the right to have a retirement allowance paid to a member until his...
• Section 21477.
  (a) The Flexible Beneficiary Option 4 consists of the right to have a retirement allowance paid to a member until his or her death, and thereafter...
• Section 21478.
  (a) A member who elects to receive the unmodified allowance or the optional settlement in Section 21474, or the optional settlement in Section 21475, 21475.5, 21476,...
• Section 21479.
  (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 21480.
  (a) Notwithstanding Section 21479, a member retiring for service who became a member of the system on or after January 1, 2002, and who is covered...
• Section 21481.
  (a) (1) Notwithstanding any other provision of this part, a member who elected the optional settlement in Section 21475, 21475.5, 21476, 21476.5, or 21477, may, if the...
• Section 21482.
  (a) Notwithstanding any provision of this part, a retired member who chose no optional settlement or the optional settlement in Section 21474 at retirement may elect...
• Section 21483.
  (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