(a) If a member reinstates from service retirement under this part, payment of a retirement annuity based on the balance of credits that was transferred from the memberâs Defined Benefit Supplement account to the Annuitant Reserve shall terminate. The memberâs Defined Benefit Supplement account shall be credited with the actuarial equivalent of the memberâs annuity as of the date the annuity is terminated and the Annuitant Reserve shall be reduced by the amount credited to the memberâs account. (b) If the member subsequently retires again, an annuity or lump-sum payment based on the remaining balance of credits in the memberâs Defined Benefit Supplement account at the time of the subsequent retirement shall become payable pursuant to Section 24202.5 and the balance of credits in the memberâs Defined Benefit Supplement account shall be transferred to the Annuitant Reserve or paid to the member in the form of a lump-sum payment.
‹ Prev All California sections Next ›
Lexace provides legal information, not legal advice, and no attorney–client relationship is created. Statute text is provided for general information and may not reflect the most recent amendments; verify against the official state code.