Any participant who is entitled to a distribution for retirement or disability that equals or exceeds five thousand dollars ($5,000), may elect to receive the distribution in one of the following forms:
(a)
A single lump-sum payment.(b)
Substantially level installment payments for a period of years that extends no longer than the life expectancy of the participant.(c)
A single life annuity.(d)
A joint and survivor annuity for the lifetimes of the participant and the participant’s option beneficiary.
Source:
Section 22960.89, https://leginfo.legislature.ca.gov/faces/codes_displaySection.xhtml?lawCode=GOV§ionNum=22960.89.
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