Section 25012 - Annuity determined as value actuarially equivalent to balance of credits; single life annuity; joint and survivor annuity(a) Except as provided in subdivision (b), an annuity payable under the Defined Benefit Supplement Program shall be determined as a value actuarially equivalent to the balance of credits in the member's Defined Benefit Supplement Program account on the member's retirement date and after any lump-sum payment. If a single life annuity is elected, the annuity shall be calculated using the age of the member on the member's retirement date. A member may elect a single life annuity only if the member did not elect to receive a modified allowance pursuant to Section 24300 or 24300.1. If a joint and survivor annuity is elected, the annuity shall be calculated using the age of the member and the age of the member's beneficiary on the member's annuity effective date. A member may elect a joint and survivor annuity only if the member elected to receive a modified allowance pursuant to Section 24300 or 24300.1.(b) If a member elected to receive an annuity pursuant to Section 25018 or 25018.1, and if the member is still receiving the annuity at the time the member's disability allowance is terminated pursuant to Section 24213, the annuity already in effect shall continue upon the member's service retirement provided the member's service retirement benefit effective date is the day after the disability allowance termination date.(c) The beneficiary designation made pursuant to Section 24307 is not applicable to benefits payable under this chapter.Amended by Stats 2018 ch 416 (SB 1165),s 20, eff. 1/1/2019.Amended by Stats 2011 ch 703 (SB 349),s 31, eff. 1/1/2012.Amended by Stats 2006 ch 655 (SB 1466),s 54, eff. 1/1/2007.Amended by Stats 2002 ch 375 (AB 2982),s 26, eff. 1/1/2003.Added by Stats 2000 ch 74 (AB 1509), s 69, eff. 1/1/2001.Amended by Stats 2000 ch 1021 (AB 2700), s 54, eff. 1/1/2001.