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Education Code - EDC - EDC § 27008
Education Code - EDC - EDC § 27008
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
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Education Code - EDC - EDC § 27100
Education Code - EDC - EDC § 27100
A participant may at any time designate or change the designation of one or more primary beneficiaries and one or more contingent beneficiaries to receive any lump-sum death benefit that may be payable under the plan. The beneficiary shall be designated on a form prescribed by th
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Education Code - EDC - EDC § 27100.5
Education Code - EDC - EDC § 27100.5
A corporation, trust, charitable organization, parochial institution, or public entity may be designated as a beneficiary under this part, but shall not be designated as an annuity beneficiary, except a trust as defined in Section 26106.5.
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Education Code - EDC - EDC § 27101
Education Code - EDC - EDC § 27101
In the event the participant dies without a valid beneficiary designation on file with the system, any lump-sum death benefit under this part shall be payable to the estate of the participant.
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Education Code - EDC - EDC § 27102
Education Code - EDC - EDC § 27102
Part 5 (commencing with Section 220) of Division 2 of the Probate Code, when applicable, shall govern the distribution of any lump-sum death benefit payable under this part. In applying Part 5 (commencing with Section 220) of Division 2 of the Probate Code with respect to proceed
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Education Code - EDC - EDC § 27200
Education Code - EDC - EDC § 27200
Upon termination of all creditable service subject to coverage by the plan under this part and Part 13 (commencing with Section 22000) for any reason other than death, disability, or retirement, a participant may apply for a lump-sum termination benefit under this part which shal
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Education Code - EDC - EDC § 27201
Education Code - EDC - EDC § 27201
(a) All creditable service subject to coverage by the Cash Balance Benefit Program and the Defined Benefit Program, which does not include retired member activities as defined in Section 22164.5 or retired participant activities as defined in Section 26135.7, shall terminate prio
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Education Code - EDC - EDC § 27202
Education Code - EDC - EDC § 27202
A participant shall apply for a termination benefit under this part on a form prescribed by the system.
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Education Code - EDC - EDC § 27203
Education Code - EDC - EDC § 27203
A participant may not apply for a termination benefit under this part if less than five years have elapsed following the date the most recent termination benefit was distributed to the participant.
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Education Code - EDC - EDC § 27204
Education Code - EDC - EDC § 27204
(a) The termination benefit under this part shall not be payable before 180 calendar days have elapsed following the date of termination of employment. (b) Except as provided in subdivision (c), the application for the termination benefit shall be automatically canceled if the pa
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Education Code - EDC - EDC § 27205
Education Code - EDC - EDC § 27205
A participant may cancel the application for a termination benefit under this part at any time prior to distribution of the benefit.
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Education Code - EDC - EDC § 27206
Education Code - EDC - EDC § 27206
No partial distribution shall be made from an employee account or employer account.
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Education Code - EDC - EDC § 27207
Education Code - EDC - EDC § 27207
Upon distribution of the lump-sum payment to the participant under this part, no further benefits shall be payable from the plan under this part.
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Education Code - EDC - EDC § 27300
Education Code - EDC - EDC § 27300
(a) The plan’s obligations under this part to a participant or beneficiary who has applied for a benefit cease upon distribution of the lump-sum benefit. (b) Deposit in the United States mail of a warrant drawn as directed by the participant or beneficiary and addressed as direct
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Education Code - EDC - EDC § 27301
Education Code - EDC - EDC § 27301
(a) The plan’s obligations under this part to a participant or beneficiary who elected to receive a benefit in the form of an annuity, cease upon distribution of the final monthly payment of the annuity. (b) Deposit in the United States mail of a warrant drawn as directed by the
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Education Code - EDC - EDC § 27302
Education Code - EDC - EDC § 27302
If a benefit payable under this part cannot be distributed because, after a good faith effort, the participant or beneficiary cannot be located, the balances in the participant’s employee account and employer account shall be forfeited by the participant or beneficiary, but if th
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Education Code - EDC - EDC § 27303
Education Code - EDC - EDC § 27303
Any overpayment to a participant or beneficiary under this part shall be deducted from any subsequent benefit payment that may be payable under the plan, except as provided in Section 27303.5.
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Education Code - EDC - EDC § 27303.5
Education Code - EDC - EDC § 27303.5
If an employer reports erroneous information, the system shall calculate the actuarial present value of the expected payments from the participant or beneficiary pursuant to Sections 22008 and 24617. The employer shall pay the difference between the total amount of the overpaymen
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Education Code - EDC - EDC § 27400
Education Code - EDC - EDC § 27400
(a) This chapter establishes the power of a court in a dissolution of marriage or legal separation action with respect to community property rights in benefits under this part and defines the rights of nonparticipant spouses in the Cash Balance Benefit Program. (b) For purposes o
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Education Code - EDC - EDC § 27401
Education Code - EDC - EDC § 27401
(a) For purposes of this chapter, “nonparticipant spouse” means a participant’s spouse or former spouse who is being or has been awarded a community property interest in the benefits determined by reference to the amounts credited to a participant’s employee and employer accounts
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Education Code - EDC - EDC § 27402
Education Code - EDC - EDC § 27402
(a) Upon the legal separation or dissolution of marriage of a participant, the court shall include in the judgment or a court order the date on which the parties separated. (b) The court may order in the judgment or court order that the participant’s employee and employer credits
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Education Code - EDC - EDC § 27403
Education Code - EDC - EDC § 27403
The nonparticipant spouse who is awarded separate nominal accounts pursuant to Section 27402 is not a participant of the Cash Balance Benefit Program. The nonparticipant spouse is entitled only to rights and benefits explicitly established by this chapter.
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Education Code - EDC - EDC § 27404
Education Code - EDC - EDC § 27404
The nonparticipant spouse is entitled to no benefits or rights from the separate nominal accounts except as otherwise provided in this chapter. However, this section shall not be construed to limit any right arising from the accounts of a nonparticipant with respect to the Cash B
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Education Code - EDC - EDC § 27405
Education Code - EDC - EDC § 27405
Upon the legal separation or dissolution of marriage of a participant, the court may include in the judgment or court order a determination of the community property rights of the parties in the participant’s annuity consistent with this section. Upon election under subparagraph
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Education Code - EDC - EDC § 27406
Education Code - EDC - EDC § 27406
The nonparticipant spouse who is awarded separate nominal accounts with respect to the Cash Balance Benefit Program shall have the right to a lump-sum distribution of amounts credited to the account. (a) The nonparticipant spouse shall file an application on a form provided by th