§ 22960.89
80 words·~1 min read·
/ca/government-code/22960-89A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
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.