§ 25020. — 25020. (Amended by Stats. 2009, Ch. 304, Sec. 31.)

California § 25020.

• Jurisdiction: 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. 38.: CHAPTER 38. Defined Benefit Supplement Program
• Art. 6.: ARTICLE 6. Final Benefits

Text

(a)
A final benefit under the Defined Benefit Supplement Program shall become payable when the system receives proof of the member’s death. For a member who died on or after January 1, 2010, no benefit shall be paid to a beneficiary of the member pursuant to other chapters of this part until the final benefit is paid pursuant to this article.
(b)
If the member’s death occurs before an annuity under the Defined Benefit Supplement Program becomes payable, the final benefit shall be an amount equal to the balance of credits in the member’s Defined Benefit Supplement account on the date of the member’s death, plus minimum interest credited through the date of payment.
(c)
Upon distribution of a final benefit in a lump-sum payment, no other benefit shall be payable under the Defined Benefit Supplement Program to the member’s beneficiary.

Legislative History

Amended by Stats. 2009, Ch. 304, Sec. 31. (SB 634) Effective January 1, 2010.