State Codes and Statutes
Statutes > California > Edc > 27200-27207EDUCATION CODE
SECTION 27200-27207
27200. Upon termination of all creditable service subject to coverage by the plan under this part and Part 13 (commencing with Section 22000) for any reason other than death, disability, or retirement, a participant may apply for a lump-sum termination benefit under this part which shall be an amount that is equal to the sum of the participant's employee account and the employer account as of the date the termination benefit is paid. 27201. (a) All creditable service subject to coverage by the Cash Balance Benefit Program and all service with the participants' last employer or employers that is creditable service under the Defined Benefit Program shall terminate prior to application for a termination benefit under this part. (b) All employers with which the participant is employed to perform creditable service subject to coverage by the plan shall certify on a form prescribed by the system that the participant's employment has been terminated. 27202. Application for a termination benefit under this part shall be made on an application form prescribed by the system. 27203. A participant may not apply for a termination benefit under this part if less than five years have elapsed following the date the most recent termination benefit was distributed to the participant. 27204. (a) The termination benefit under this part shall not be payable before six calendar months have elapsed following the date of termination of employment. (b) Except as provided in subdivision (c), the application for the termination benefit shall be automatically canceled if the participant performs creditable service within six calendar months following the date of termination of employment. (c) Subdivision (b) 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 (a) or the conditions of subdivision (c) of Section 26004. 27205. A participant may cancel the application for a termination benefit under this part at any time prior to distribution of the benefit. 27206. No partial distribution shall be made from an employee account or employer account. 27207. Upon distribution of the lump-sum payment to the participant under this part, no further benefits shall be payable from the plan under this part.
