SECTIONS 27200-27207 - California Statutes

EDUCATION CODE

SECTION 27200-27207

27200. Upon termination of all creditable service subject to
coverage by the plan under this part and Part 13 (commencing with
Section 22000) for any reason other than death, disability, or
retirement, a participant may apply for a lump-sum termination
benefit under this part which shall be an amount that is equal to the
sum of the participant's employee account and the employer account
as of the date the termination benefit is paid.

27201. (a) All creditable service subject to coverage by the Cash
Balance Benefit Program and all service with the participants' last
employer or employers that is creditable service under the Defined
Benefit Program shall terminate prior to application for a
termination benefit under this part.
(b) All employers with which the participant is employed to
perform creditable service subject to coverage by the plan shall
certify on a form prescribed by the system that the participant's
employment has been terminated.

27202. Application for a termination benefit under this part shall
be made on an application form prescribed by the system.

27203. A participant may not apply for a termination benefit under
this part if less than five years have elapsed following the date the
most recent termination benefit was distributed to the participant.

27204. (a) The termination benefit under this part shall not be
payable before six calendar months have elapsed following the date of
termination of employment.
(b) Except as provided in subdivision (c), the application for the
termination benefit shall be automatically canceled if the
participant performs creditable service within six calendar months
following the date of termination of employment.
(c) Subdivision (b) does not apply if the participant has reached
that age at which the Internal Revenue Code of 1986 requires a
distribution of benefits. A participant who has reached this age
shall receive a distribution commencing on the earlier of the date
that the participant has met the conditions of subdivision (a) or the
conditions of subdivision (c) of Section 26004.

27205. A participant may cancel the application for a termination
benefit under this part at any time prior to distribution of the
benefit.

27206. No partial distribution shall be made from an employee
account or employer account.

27207. Upon distribution of the lump-sum payment to the participant
under this part, no further benefits shall be payable from the plan
under this part.