Cal. Code Regs. tit. 2 § 582
A member may designate as beneficiary to receive any benefit payable to a member's designated beneficiary upon death before or after retirement, any person or persons, including a corporation; provided, however, that a beneficiary designated to receive payments under an optional settlement based on life contingency may be only a natural person. The designation must be in writing, except as otherwise provided in this section, must give the name of the person and his address, and must be filed in the office of the board in Sacramento, California. The right of a beneficiary to receive payment of a benefit is contingent on his survival at the time of the member's death, and the member may designate a beneficiary or beneficiaries on the contingency that the first beneficiary does not so qualify.
A member may, subject to the conditions set forth in this paragraph, designate as beneficiaries or contingent beneficiaries, other than a beneficiary to receive payment under an optional settlement based on life contingency of the beneficiary, his children or his grandchildren by class rather than by naming the individuals as otherwise required in this section. For purposes of such designation, "children" shall mean natural or adopted children and "grandchildren " shall mean natural or adopted children of the member's "children," and shall include such children or grandchildren in being at the time of the member's death or who are conceived before the member's death and born thereafter. Payments of a benefit by the system on the basis of a determination in good faith of the existence and identity of the members of a class so designated shall constitute a complete discharge and release of the system from further liability for the benefit, notwithstanding that it may not have discovered a beneficiary otherwise entitled.
Cal. Code Regs. Tit. 2, § 582
2. Amendment filed 12-13-66; effective thirtieth day thereafter (Register 66, No. 44).
Note: Authority cited: Section 20120, Government Code. Reference: Sections 20303, 20037, 21204 and 21205, Government Code.
2. Amendment filed 12-13-66; effective thirtieth day thereafter (Register 66, No. 44).