§ 20340. — 20340. (Amended by Stats. 2014, Ch. 237, Sec. 2.)

California § 20340.

• Jurisdiction: California
• Code GOV: Government Code - GOV
• Div.: 5.
• Title 2.: DIVISION 5. PERSONNEL
• Part 3.: PART 3. PUBLIC EMPLOYEES' RETIREMENT SYSTEM
• Ch. 3.: CHAPTER 3. Membership in System
• Art. 4.: ARTICLE 4. Termination of Membership

Text

A person ceases to be a member:
(a)
Upon retirement, except while participating in reduced worktime for partial service retirement.
(b)
If he or she is paid his or her normal contributions, unless payment of contributions is the result of an election pursuant to paragraph (1) of subdivision (b) of Section 21070, or unless, after reducing the member’s credited service by the service applicable to the contributions being withdrawn, the member meets the requirements of Section 21075 or if he or she is paid a portion of his or her normal contributions where more than one payment is made, or these contributions are held pursuant to Section 21500.
For the purposes of this subdivision, deposit in the United States mail of a warrant drawn in favor of a member, addressed to the latest address of the member on file in the office of this system, electronic fund transfer to the person’s bank, savings and loan association, or credit union account, constitutes payment to the person of the amount for which the warrant is drawn or electronically transferred.
(c)
If the member has less than five years of service credit, or less than 10 years of service credit if the member is subject to Section 21076 or 21076.5, and no accumulated contributions in the retirement fund at the time of termination of service, unless the member establishes membership in the Judges’ Retirement System, the Judges’ Retirement System II, the Legislators’ Retirement System, the State Teachers’ Retirement System, or the University of California Retirement Plan, or establishes reciprocity with a reciprocal retirement
system.

Legislative History

Amended by Stats. 2014, Ch. 237, Sec. 2. (AB 2472) Effective January 1, 2015.