California Statutes
§ 24402. — 24402. (Amended by Stats. 2014, Ch. 755, Sec. 66.)
California·Code EDC Education Code - EDC·Div. 1.·Title 1. DIVISION 1. GENERAL EDUCATION CODE PROVISIONS·Part 13. PART 13. STATE TEACHERS' RETIREMENT SYSTEM·Ch. 29. CHAPTER 29. Benefit Maintenance
(a)Service retirement allowances, disability allowances, disability retirement allowances, family allowances, and survivor benefit allowances payable pursuant to this part shall be increased by application of the benefit improvement factor.
(b)Allowances payable to beneficiaries on account of options elected under Section 24300, 24300.1, 24307, or 24332 shall be increased by application of the improvement factor. This factor shall be applicable on the same date when it would have been applied to the allowance of the deceased person.
(c)The benefit improvement factor shall not be applied to
an annuity that is the actuarial equivalent of the accumulated annuity
deposit contributions standing to the credit of the member’s account on the effective date of a service or disability
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California § 24402. (24402. (Amended by Stats. 2014, Ch. 755, Sec. 66.)) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.
Legislative History
Amended by Stats. 2014, Ch. 755, Sec. 66. (SB 1220) Effective January 1, 2015.