SB 2047 (Lewis) – Change of Survivor Option
Establishes Joint and Survivor Option 8, which allows a member to select more than one option beneficiary. Permits members to change from Option 4 or 5 to Option 6 or 7 under specified circumstances. Also grants that members, who have made a pre-retirement election of an option, will receive the greater of the benefit determined under either the option factors in place at the time of retirement or the option factors in place at the time of election.
- Version: Chaptered (Chapter 349, Statutes of 1998)
- Sponsor: Teachers’ Retirement Board
- Location: Signed by Governor
- Board Position: Sponsor
For an accessible version of any CalSTRS analysis on this page, contact ADACoordinator@CalSTRS.com.