Section 21460 Of Article 6. Optional Settlements From California Government Code >> Division 5. >> Title 2. >> Part 3. >> Chapter 13. >> Article 6.
21460
. A member who elects to receive the unmodified allowance or
optional settlement 1, or optional settlement 2, 3, or 4 with or
without making the election specified in Section 21459, and who names
his or her spouse as the option beneficiary, and whose spouse is
also an eligible survivor for the benefits provided by Section 21624,
21626, 21627, 21628, 21629, or 21630, and where the total benefit to
the surviving spouse is at least 50 percent of the member's
unmodified allowance, may concurrently and irrevocably elect to have
his or her allowance paid as a "qualified joint and survivor annuity."
Notwithstanding any other provision of this part, upon the election,
the survivor allowance shall be paid only to the member's spouse and
shall continue to be paid upon the remarriage of the spouse. Any
cost due to this election shall be paid by the member through an
actuarial reduction to his or her allowance.
For purposes of this section, a member's retirement allowance
shall be determined without regard to any limitation required
pursuant to Section 415 of Title 26 of the United States Code but the
amount payable to the spouse shall be subject to those limits as if
it were the retirement allowance of the member.