Amended by Stats. 2000, Ch. 74, Sec. 6. Effective January 1, 2001.
(a)“Annuity,” with respect to the Defined Benefit Program, means payments for life derived from the “accumulated annuity deposit contributions” of a member.
(b)“Annuity,” with respect to the Defined Benefit Supplement Program, means an alternative payment arrangement wherein a benefit based on the balance of credits in a member’s Defined Benefit Supplement account is paid monthly rather than in a lump-sum.
Cite this section