§ 21455 Retirement Benefit Payout Option

Government Code·California

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Key Takeaways

•If you retire by December 31, 2017, you can choose to get monthly payments for life.
•If you die before getting back all the money you put in, the rest goes to your family or estate.
•This rule only applies if you retired before 2018.

Example

A teacher retires in 2017 and picks this payment plan.

The teacher gets monthly checks for life. If they die before getting all their money back, their family gets the leftover amount.

AI-generated — May contain errors. Not legal advice. Always verify source.

Official Source

View on CA.gov

§ 21455 Retirement Benefit Payout Option

Optional settlement 1 consists of the right to have a retirement allowance paid to the member until his or her death and if the member dies before he or she receives in annuity payments the amount of his or her accumulated contributions at retirement, to have the balance at death paid to his or her beneficiary or estate. This section shall apply to any member who retires on or before December 31, 2017. (Amended by Stats. 2016, Ch. 199, Sec. 10. (AB 2404) Effective January 1, 2017.)

Last verified: January 22, 2026

Key Terms

Optional settlement 1 retirement allowance accumulated contributions beneficiary or estate

References

Official text at leginfo.legislature.ca.gov
California Legislature. Government Code. Section 21455.

Key Takeaways

Example

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References

Key Takeaways

Example

Key Terms

Related Statutes

References