Section 26806 Of Chapter 9. Retirement Benefit From California Education Code >> Division 1. >> Title 1. >> Part 14. >> Chapter 9.
26806
. (a) The normal form of retirement benefit under this part is
a lump-sum payment. Upon distribution of the lump-sum payment to the
participant, no further benefits shall be payable from the plan with
respect to the Cash Balance Benefit Program.
(b) The lump-sum payment in subdivision (a) shall not be payable
before 180 calendar days have elapsed following the date of
termination of employment.
(c) Except as provided in subdivision (d) or subdivision (e) of
Section 26812, the application for the retirement benefit in the form
of a lump-sum payment shall be automatically canceled if the
participant performs creditable service within 180 calendar days
following the date of termination of employment.
(d) Subdivision (c) 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 (b) or the
conditions of subdivision (c) of Section 26004.