Section 89623 Of Article 3. Administration And Participation From California Education Code >> Division 8. >> Title 3. >> Part 55. >> Chapter 5.5. >> Article 3.

. No retirement, death, or other benefit shall be paid by the state or the trustees for services credited under the optional retirement program. The benefits are payable to participants or their beneficiaries only by the designated company or companies in accordance with the terms of the contracts, certificates, or investment funds.