Section 23104 Of Chapter 18. Refund Of Contributions From California Education Code >> Division 1. >> Title 1. >> Part 13. >> Chapter 18.
23104
. (a) Deposit in the United States mail of an initial warrant
drawn as directed by the member as a refund of contributions upon
termination of employment, and addressed to the address directed by
the member, constitutes a return of the member's accumulated
retirement contributions under this part. In lieu of an initial
warrant, the system may initiate a disbursement by electronic funds
transfer to a specific account at a financial institution as directed
by the member as a refund of contributions upon termination of
employment, which shall constitute a return of the member's
accumulated retirement contributions under this part.
(b) Except as provided in subdivision (e), if the member has
elected on a form provided by the system to transfer all or a
specified portion of the accumulated retirement contributions that
are eligible for direct trustee-to-trustee transfer to the trustee of
a qualified plan under Section 402 of the Internal Revenue Code of
1986 (26 U.S.C. Sec. 402), deposit in the United States mail of a
notice that the requested transfer has been made constitutes a return
of the member's accumulated retirement contributions under this
part.
(c) Except as provided in subdivision (e), for refunds not
involving direct trustee-to-trustee transfers, if the member returns
the total gross distribution amount to the system's headquarters
office within 30 days from the mailing date, the refund shall be
canceled and the person shall be restored as a member of the Defined
Benefit Program with all the rights and privileges under this part
restored.
(d) Except as provided in subdivision (e), for refunds involving
direct trustee-to-trustee transfers, if the member returns the
warrant drawn to the trustee of the qualified plan or the trustee
returns the amount of the qualified refund and, if applicable, any
additional amounts necessary to equal, but in no event to exceed, the
total gross distribution amount to the system's headquarters office
within 30 days from the mailing date, the refund shall be canceled
and the person shall be restored as a member of the Defined Benefit
Program with all the rights and privileges under this part restored.
(e) The mode of notice described in subdivision (b) and the
measurement of time within which the return of total gross
distribution amounts described in subdivisions (c) and (d) shall be
made are subject to Section 22337.