Section 21454 Of Article 6. Optional Settlements From California Government Code >> Division 5. >> Title 2. >> Part 3. >> Chapter 13. >> Article 6.
21454
. Notwithstanding Section 21453, an election of optional
settlement 2 or 3, or optional settlement 4 involving life
contingency in which a spouse is designated as the beneficiary, may
be modified as provided in this section in the event of a dissolution
or annulment of the marriage or a legal separation in which the
division of the community property awards the total interest in the
retirement system to the retired member. The modification shall
provide that payment shall be continued during the retired person's
lifetime in accordance with the optional settlement then in effect
but that no monthly allowance shall be paid following the retired
person's death, and in lieu thereof there shall be paid in a lump sum
to the member's estate or a beneficiary designated by him or her the
amount, if any, by which the member's accumulated contributions at
retirement exceed the total payments made to the retired person to
the date of his or her death.