Cal. Ed. Code § 27008

Current through the 2024 Legislative Session.

Section 27008 - Death of beneficiary while receiving annuity

Upon the death of a beneficiary who was receiving an annuity under this part due to the death of a participant, payment shall be made as follows:

(a) Upon the death of a beneficiary under a joint and survivor option, no amount shall be payable.

(b) Upon the death of a beneficiary who elected a single life annuity without a cash refund feature, no amount shall be payable.

(c) Upon the death of a beneficiary who was receiving a period certain annuity, the actuarial equivalent of the remaining balance of payments shall be paid in a lump sum to the estate of the beneficiary unless the beneficiary designated a payee to receive the remaining balance of payments as provided in Section 27004.

Ca. Educ. Code § 27008

Amended by Stats 2001 ch 803 (SB 501), s 49, eff. 1/1/2002.