Added by Stats. 1999, Ch. 307, Sec. 4. Effective January 1, 2000.
(a)Upon termination for any reason other than death, disability, or retirement, a participant is entitled to a lump sum distribution of the balance of the participant’s account within a reasonable time following the valuation date immediately following the date of the application.
(b)Application for a distribution for termination of employment shall be made on a distribution request form and in the manner prescribed by the board.
(c)All employers with which the participant is employed as a member of the system shall certify on a form prescribed by the board that the participant’s employment has terminated.
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Other sections in Chapter 11 - Eligibility for Distribution