Termination Benefits

Cal. EDC § 25024

California Statutes

(

a) Upon the termination of all employment to perform creditable service subject to coverage under the plan for a reason other than retirement, disability, or death, a member shall be eligible for a termination benefit under the Defined Benefit Supplement Program. (

b) A member shall submit an application for a termination benefit on a form prescribed by the system. If a member submits an application for a refund of contributions under the Defined Benefit Program, pursuant to

Section 23103, that application shall also be deemed an application for a termination benefit. If a member cancels the application for a refund of contributions under the Defined Benefit Program, the application for the termination benefit shall also be deemed to have been canceled. (

c) The member’s employer or employers shall certify in a format prescribed by the system that the member’s employment has been terminated, unless the member’s termination of employment occurred consecutive months or more prior to the date the application for a termination benefit is received by the system’s headquarters office. (

d) The termination benefit shall be a lump-sum payment that is equal to the balance of credits in the member’s Defined Benefit Supplement account. (

e) Upon distribution of the termination benefit, no further benefit shall be payable to the member or the member’s beneficiary under the Defined Benefit Supplement Program. (

f) A partial distribution of the balance of credits in a member’s Defined Benefit Supplement account shall not be made, except as provided in

Section 25009, 25015, 25016, or 25022.

Document details

CollectionCalifornia Statutes
CitationCal. EDC § 25024
Date2020-01-01
Typestatute
Languageen
SourceCA_STAT
IdentifierEDC25024.20199622

Termination Benefits

Cal. EDC § 25024

California Statutes

Termination Benefits

Cal. EDC § 25024

California Statutes

(

a) Upon the termination of all employment to perform creditable service subject to coverage under the plan for a reason other than retirement, disability, or death, a member shall be eligible for a termination benefit under the Defined Benefit Supplement Program. (

b) A member shall submit an application for a termination benefit on a form prescribed by the system. If a member submits an application for a refund of contributions under the Defined Benefit Program, pursuant to

Section 23103, that application shall also be deemed an application for a termination benefit. If a member cancels the application for a refund of contributions under the Defined Benefit Program, the application for the termination benefit shall also be deemed to have been canceled. (

c) The member’s employer or employers shall certify in a format prescribed by the system that the member’s employment has been terminated, unless the member’s termination of employment occurred consecutive months or more prior to the date the application for a termination benefit is received by the system’s headquarters office. (

d) The termination benefit shall be a lump-sum payment that is equal to the balance of credits in the member’s Defined Benefit Supplement account. (

e) Upon distribution of the termination benefit, no further benefit shall be payable to the member or the member’s beneficiary under the Defined Benefit Supplement Program. (

f) A partial distribution of the balance of credits in a member’s Defined Benefit Supplement account shall not be made, except as provided in

Section 25009, 25015, 25016, or 25022.

Document details

CollectionCalifornia Statutes
CitationCal. EDC § 25024
Date2020-01-01
Typestatute
Languageen
SourceCA_STAT
IdentifierEDC25024.20199622