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California Law (Last Updated: March 4, 2014) |
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Education Code - EDC |
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Title 1. GENERAL EDUCATION CODE PROVISIONS |
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Division 1. GENERAL EDUCATION CODE PROVISIONS |
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Part 13. STATE TEACHERS' RETIREMENT SYSTEM |
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Chapter 38. Defined Benefit Supplement Program |
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ARTICLE 6. Final Benefits |
Section 25023.
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(a) Upon the death of an annuity beneficiary who was receiving an annuity under a joint and survivor annuity elected by the member no further payment shall be made other than the accrued annuity for the month in which the annuity beneficiary's death occurred, which shall be paid in a lump sum to the payee designated by the annuity beneficiary.
(b) Upon the death of a beneficiary who was receiving a single life annuity without a cash refund feature, no further payment shall be made other than the accrued annuity for the month in which the beneficiary's death occurred, which shall be paid in a lump sum to the payee designated by the beneficiary.
(c) Upon the death of a beneficiary who was receiving a period certain annuity, the actuarial equivalent of the remaining balance of payments shall be paid in a lump sum to the payee designated by the beneficiary pursuant to subdivision (c) of Section 25015.