Section 23881 Of Chapter 24. Retired Death Benefits From California Education Code >> Division 1. >> Title 1. >> Part 13. >> Chapter 24.
23881
. (a) If upon receipt of proof of death of a retired member
who was receiving an unmodified allowance and who retired under this
part after June 30, 1972, there is a remaining balance of the member'
s accumulated retirement contributions, the balance shall be paid to
the member's beneficiary.
(b) Upon receipt of proof of death of a retired member's option
beneficiary after the beneficiary begins to receive an allowance, the
remaining balance of a member's accumulated retirement
contributions, if any, shall be paid to the beneficiary designated by
the option beneficiary to receive that payment.
(c) The remaining balance of a retired member's accumulated
retirement contributions shall be the difference between the balance
of the accumulated retirement contributions on the effective date of
the member's retirement and the total retirement allowance paid or
payable to the retired member on the date of the member's death. If
the retired member predeceased the option beneficiary, the remaining
balance of the retired member's accumulated retirement contributions
shall be the difference between the balance of the accumulated
retirement contributions on the effective date of the member's
retirement and the total retirement allowance paid or payable to the
retired member and the option beneficiary on the date of the option
beneficiary's death.
(d) Payments pursuant to this section shall include interest on
the remaining balance of accumulated retirement contributions
calculated from the date the last allowance payment was made to the
date the remaining balance of accumulated retirement contributions is
paid.