In lieu of electing the unmodified allowance for his or her life alone, a judge may elect to have the actuarial equivalent of his or her retirement allowance as of the date of retirement applied to a lesser retirement allowance, in accordance with one of the optional settlements specified in Section 75071 when the judge retires on or before December 31, 2017, or Section 75071.5 when the judge retires on or after January 1, 2018.

That election, revocation, or change of election shall be made by a writing filed with the Judges’ Retirement System within 30 calendar days after the making of the first payment on account of any retirement allowance.

Terms Used In California Government Code 75070

  • Person: includes any person, firm, association, organization, partnership, limited liability company, business trust, corporation, or company. See California Government Code 17
  • Settlement: Parties to a lawsuit resolve their difference without having a trial. Settlements often involve the payment of compensation by one party in satisfaction of the other party's claims.
  • Subdivision: means a subdivision of the section in which the term occurs unless some other section is expressly mentioned. See California Government Code 10

If a person qualifies for the survivor allowance under Section 75077 or 75096.3, then the election with respect to any optional settlement other than the optional settlement in subdivision (a) of Section 75071 or subdivision (b) of Section 75071.5, shall apply only to the portion of the retirement allowance that exceeds the amount of the allowance deemed payable to the survivor.

(Amended by Stats. 2016, Ch. 199, Sec. 40. (AB 2404) Effective January 1, 2017.)

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