Section 20580 Of Article 5. Termination Of Contracts From California Government Code >> Division 5. >> Title 2. >> Part 3. >> Chapter 5. >> Article 5.
20580
. Upon the termination of a contract, all memberships in this
system existing because of that contract continue in existence to the
extent that there are accumulated contributions to the credit of
each local member, but any member may elect to withdraw his or her
accumulated contributions if the member is not employed in a position
subject to coverage by the system at the time of election. The
status of any member who does not withdraw his or her accumulated
contributions shall be the same as if the public agency had continued
as a contracting agency. The membership of any member who is
eligible and who elects to withdraw his or her accumulated
contributions shall be terminated forthwith, and he or she shall not
be entitled to any further benefit based upon service credited as an
employee of the contracting agency, nor shall he or she have the
right to redeposit those withdrawn contributions upon again becoming
a member of this system. The portion of the contributions of the
contracting agency held under Section 20576 to the credit of each
member shall be determined by the board, and may be adjusted from
time to time prior to termination of membership. A member whose
membership continues under this section is subject to the same age
and incapacity requirements as apply to other members for service or
for disability retirement, but he or she is not subject to a minimum
service requirement. Except as provided in Section 20578, he or she
shall receive the retirement benefits as his or her accumulated
contributions, together with the portion of the excess of the
contributions of the contracting agency as are credited to him or
her, shall provide, as determined by the board, but the provisions of
this part relative to minimum retirement allowances shall not apply
to him or her, nor shall those benefits exceed the benefits provided
by the contract prior to its termination. Upon the death of a member,
the basic death benefit shall be his or her accumulated
contributions.