reglab/statecodes huggingface dataset:
2023 California Code › Education Code - EDC › TITLE 1 - GENERAL EDUCATION CODE PROVISIONS › DIVISION 1 - GENERAL EDUCATION CODE PROVISIONS › PART 13 - STATE TEACHERS' RETIREMENT SYSTEM › CHAPTER 28 - Options › Section 24312.

24312. Termination of the service retirement allowance pursuant to Section 24208 shall not cancel an option elected under the provisions of Section 24307. The effective date of the option shall remain the original election date pursuant to Section 24307.
(Added by renumbering Section 24303 by Stats. 2014, Ch. 755, Sec. 47. (SB 1220) Effective January 1, 2015.)
2023 California Code › Education Code - EDC › TITLE 1 - GENERAL EDUCATION CODE PROVISIONS › DIVISION 1 - GENERAL EDUCATION CODE PROVISIONS › PART 13 - STATE TEACHERS' RETIREMENT SYSTEM › CHAPTER 28 - Options › Section 24320.

24320. (a) An option elected under Section 24300 or 24300.1 may be canceled by a retired member if the option beneficiary is not the retired member’s spouse or former spouse. A retired member may cancel the option before or after issuance of the first retirement allowance payment and shall designate his or her spouse as the new option beneficiary and the same or a different joint and survivor option described in Section 24300.1.
(b) The retired member shall notify the board, in writing on a properly executed form provided by the system, of the designation of the new option beneficiary. Notification shall include a certified copy of the marriage certificate and a properly executed form for the change.
(c) The effective date of the new election shall be six months following the date notification is received by the board, provided both the retired member and the new designated option beneficiary are then living. If the effective date of the new option election is on or after January 1, 2007, at the time of the new election the retired member shall elect an option from the options described in Section 24300.1. If, before the new election becomes effective, the member terminates his or her benefit pursuant to Section 24208 or the retired member or the new option beneficiary dies, the new election is void and the previous election remains in effect.
(d) The election of the option and designation of the option beneficiaries under this section and Section 24300.1 shall be subject to an actuarial modification of the retirement allowance. In no event may a retired member elect a joint and survivor option that would result in any additional liability to the fund. A retired member may not elect the compound option described in paragraph (4) of subdivision (a) of Section 24300.1. Modification of the retirement allowance because of the new option beneficiary and the new option shall be based on the ages of the retired member and the new option beneficiary as of the effective date of the new election.
(Added by renumbering Section 24305.5 by Stats. 2014, Ch. 755, Sec. 52. (SB 1220) Effective January 1, 2015.)
2023 California Code › Education Code - EDC › TITLE 1 - GENERAL EDUCATION CODE PROVISIONS › DIVISION 1 - GENERAL EDUCATION CODE PROVISIONS › PART 13 - STATE TEACHERS' RETIREMENT SYSTEM › CHAPTER 28 - Options › Section 24321.

24321. (a) Any retired member who was unmarried and not in a registered domestic partnership on the benefit effective date who did not elect an option pursuant to Section 24300, 24300.1, or 24307, and who thereafter marries or registers in a domestic partnership, may, after the effective date of the member’s retirement under this part, elect an option described in paragraph (1), (2), or (3) of subdivision (a) of Section 24300.1, naming his or her new spouse or registered domestic partner as the option beneficiary, subject to all of the following:
(1) The retired member shall have been married or registered in a domestic partnership for at least one year prior to making the election of the option.
(2) The retired member shall notify the board, in writing on a properly executed form provided by the system, of the election of the option and the designation of the member’s new spouse or registered domestic partner as the option beneficiary. That notice shall include a certified copy of the marriage certificate or the certificate of registration of domestic partnership.
(3) The election of an option under this section is subject to approval by the board. A retired member may not elect a joint and survivor option that would result in any additional liability to the retirement fund. A retired member may not elect the compound option described in paragraph (4) of subdivision (a) of Section 24300.1.
(4) The election shall be effective six months after the date the notification is received by the board, provided that both the retired member and the retired member’s designated spouse or registered domestic partner are then living. If the effective date of the new option election is on or after January 1, 2007, at the time of the new election the retired member shall elect an option from the options described in paragraph (1), (2), or (3) of subdivision (a) of Section 24300.1. If, before the new election becomes effective, the member terminates his or her benefit pursuant to Section 24208 or the retired member or the new option beneficiary dies, the new election is void and the unmodified election remains in effect.
(b) The election of the option and designation of the option beneficiary under this section shall result in an actuarial modification of the member’s retirement allowance that shall be payable through the life of the member and the member’s new spouse or registered domestic partner. Modification of the member’s retirement allowance pursuant to this section shall be based on the ages of the retired member and the retired member’s new spouse or registered domestic partner as of the effective date of the election.
(Added by renumbering Section 24300.6 by Stats. 2014, Ch. 755, Sec. 44. (SB 1220) Effective January 1, 2015.)
2023 California Code › Education Code - EDC › TITLE 1 - GENERAL EDUCATION CODE PROVISIONS › DIVISION 1 - GENERAL EDUCATION CODE PROVISIONS › PART 13 - STATE TEACHERS' RETIREMENT SYSTEM › CHAPTER 28 - Options › Section 24324.

24324. (a) A member who is receiving a joint and survivor annuity under the Defined Benefit Supplement Program may change the annuity or the annuity beneficiary elected pursuant to Section 25011, 25011.1, 25018, or 25018.1, provided all of the following conditions are met:
(1) The annuity beneficiary is the member’s spouse or former spouse.
(2) A final decree of dissolution of marriage is granted, or a judgment of nullity is entered, or an order of separate maintenance is made by a court of competent jurisdiction with respect to the member and the spouse or former spouse on or after the beginning of the initial plan year designated by the board pursuant to Section 22156.05.
(3) The change is consistent with the final decree of dissolution, judgment of nullity, or order of separate maintenance.
(b) A member may change the annuity pursuant to subdivision (a) before or after the first annuity payment is issued.
(c) The member shall notify the system in writing of the change in the annuity. The notification shall not be earlier than the effective date of the final decree of dissolution, judgment of nullity, or order of separate maintenance and shall include a certified copy of the final decree of dissolution, judgment of nullity, or order of separate maintenance, and any property settlement agreement.
(d) A change in the annuity or annuity beneficiary or both shall become effective on the date the notification of change is received by the system. The annuity amount payable to the member upon the change elected by the member shall be determined as of the effective date of the change and shall be the actuarial equivalent of the lump sum that would otherwise be payable to the member as of the date of the change. If the member elects a joint and survivor annuity, the amount payable under the annuity shall be modified consistent with the annuity elected by the member.
(Added by renumbering Section 24305.3 (as amended by Stats. 2006, Ch. 655, Sec. 39) by Stats. 2014, Ch. 755, Sec. 50. (SB 1220) Effective January 1, 2015.)
2023 California Code › Education Code - EDC › TITLE 1 - GENERAL EDUCATION CODE PROVISIONS › DIVISION 1 - GENERAL EDUCATION CODE PROVISIONS › PART 13 - STATE TEACHERS' RETIREMENT SYSTEM › CHAPTER 28 - Options › Section 24330.

24330. (a) The election of an option as provided in Section 24307 shall preclude the payment of a family allowance to any beneficiary under this part.
(b) The preretirement election of an option made by the member pursuant to Section 24307 shall be voided by the board as of the effective date of an approved disability retirement under this part. Members receiving a disability retirement allowance pursuant to Chapter 26 (commencing with Section 24100) may not file an election of option as provided in Section 24307.
(c) The election of an option as provided in Section 24307 shall preclude the payment of a survivor benefit allowance pursuant to Chapter 23 (commencing with Section 23850) and shall preclude the payment of the remaining balance of the member’s accumulated retirement contributions prior to the death of the option beneficiary.
(Added by renumbering Section 24308 by Stats. 2014, Ch. 755, Sec. 57. (SB 1220) Effective January 1, 2015.)
2023 California Code › Education Code - EDC › TITLE 1 - GENERAL EDUCATION CODE PROVISIONS › DIVISION 1 - GENERAL EDUCATION CODE PROVISIONS › PART 13 - STATE TEACHERS' RETIREMENT SYSTEM › CHAPTER 28 - Options › Section 24331.

24331. (a) An option beneficiary or a trustee or beneficiary of a trust that is an option beneficiary who is receiving an allowance pursuant to the option elected by the member may designate a beneficiary to receive any allowance that has accrued and is unpaid, and any remaining balance of the retired member’s accumulated retirement contributions payable pursuant to Section 23881, upon the death of the option beneficiary.
(b) Unless otherwise specified in the trust instrument, the trustee of the trust that is an option beneficiary is entitled to name a subsequent beneficiary if the trust is valid. If the trust is determined to be invalid or terminates, any election by the trustee pursuant to this division shall be void and the beneficiary shall be entitled to exercise all rights provided to option beneficiaries under this part.
(Amended by Stats. 2016, Ch. 559, Sec. 10. (AB 1875) Effective January 1, 2017.)
2023 California Code › Education Code - EDC › TITLE 1 - GENERAL EDUCATION CODE PROVISIONS › DIVISION 1 - GENERAL EDUCATION CODE PROVISIONS › PART 13 - STATE TEACHERS' RETIREMENT SYSTEM › CHAPTER 28 - Options › Section 24332.

24332. (a) A member upon application for a disability retirement pursuant to Chapter 26 (commencing with Section 24100), may elect, as provided in Section 24300 or 24300.1 to receive an actuarially modified disability retirement allowance.
(b) For purposes of this section, the member shall either elect to receive an unmodified allowance or designate an option beneficiary on a properly executed form prescribed by the system, either of which shall be filed with the system on or before the last day of the month in which the member’s disability retirement is approved by the system. The option shall become effective on the effective date of the disability retirement allowance. The modification of the disability retirement allowance under the option elected shall be based on the ages of the retired member and the designated option beneficiary as of the effective date of the disability retirement. The modification shall be applicable only to the disability retirement allowance payable pursuant to subdivision (a) of Section 24106.
(c) Except as provided in Sections 24300, 24300.1, 24320, 24321, 24322, and 24323, a member may revoke or change an election of an option no later than 30 days from the date of the member’s initial disability retirement benefit payment.
(d) If a member dies prior to electing an unmodified allowance or an option, the death benefits shall be payable under Chapter 23 (commencing with Section 23850), regardless of whether the disability retirement application is or would have been approved.
(Added by renumbering Section 24301 by Stats. 2014, Ch. 755, Sec. 45. (SB 1220) Effective January 1, 2015.)
2023 California Code › Education Code - EDC › TITLE 1 - GENERAL EDUCATION CODE PROVISIONS › DIVISION 1 - GENERAL EDUCATION CODE PROVISIONS › PART 13 - STATE TEACHERS' RETIREMENT SYSTEM › CHAPTER 28 - Options › Section 24333.

24333. Upon termination of a disability retirement allowance pursuant to Section 24117, any option elected at the time of retirement pursuant to Section 24332 shall be void as of the effective date of the reinstatement. The preretirement election of option subsequent to termination of the allowance pursuant to Section 24117 shall be subject to the following:
(a) A member may not make a preretirement election of option pursuant to Section 24307 prior to becoming qualified to make application for service retirement under Section 24201 or 24203.
(b) A member who was receiving an unmodified disability retirement allowance prior to termination of the allowance may not make a preretirement election of option earlier than six months following the date on which the disability retirement allowance was terminated pursuant to Section 24117.
(c) A member who has elected an option pursuant to Section 24332, and is otherwise eligible to make a preretirement election of an option, may make the election anytime during the six months following the date on which the disability retirement allowance was terminated pursuant to Section 24117. The member shall elect the same option and designate the same option beneficiary as designated under Section 24332 when making the election during the six-month period following the date the disability retirement allowance was terminated.
(Added by renumbering Section 24304 by Stats. 2014, Ch. 755, Sec. 48. (SB 1220) Effective January 1, 2015.)
2023 California Code › Education Code - EDC › TITLE 1 - GENERAL EDUCATION CODE PROVISIONS › DIVISION 1 - GENERAL EDUCATION CODE PROVISIONS › PART 13 - STATE TEACHERS' RETIREMENT SYSTEM › CHAPTER 28 - Options › Section 24340.

24340. (a) A member who has a preretirement election of an option in effect on December 31, 1990, may change his or her preretirement election of Option 2, Option 3, Option 4, or Option 5 to either Option 6 or Option 7 without the allowance reduction prescribed in Sections 24309 and 24310, provided the change is made on or after January 1, 1991, and prior to the earlier of January 1, 1992, or the member’s retirement under this part.
(b) If the member elects to change his or her option under this section, then the member shall retain the same option beneficiary as named in the prior preretirement election. The election to change the preretirement election under this section shall be void if not received in the system’s headquarters office at least 30 days prior to the death of the option beneficiary.
(Added by renumbering Section 24311 by Stats. 2014, Ch. 755, Sec. 60. (SB 1220) Effective January 1, 2015.)
2023 California Code › Education Code - EDC › TITLE 1 - GENERAL EDUCATION CODE PROVISIONS › DIVISION 1 - GENERAL EDUCATION CODE PROVISIONS › PART 13 - STATE TEACHERS' RETIREMENT SYSTEM › CHAPTER 28 - Options › Section 24341.

24341. (a) A member who retired for service under Option 2 or Option 3 with an effective date prior to January 1, 1991, may elect to change Option 2 to Option 6 or Option 3 to Option 7 under all of the following conditions:
(1) The election is made during the six-month period commencing July 1, 1994, and ending December 31, 1994.
(2) The same beneficiary under Option 2 or Option 3 is named as beneficiary under Option 6 or Option 7.
(3) The change in options is consistent with Sections 22453 and 24322.
(4) The option beneficiary is not afflicted with any known terminal illness and the retired member shall state under penalty of perjury that to the best of his or her knowledge the option beneficiary is not afflicted with any known terminal illness.
(5) The option beneficiary has not predeceased the retired member as of the effective date of the change in options.
(b) The change in options shall be effective on the date the election is signed, provided that the election is received at the system’s headquarters office within 30 days after the date of the signature.
(c) If an election to change options is made pursuant to this section, the modified allowance shall be reduced in a manner determined by the board to ensure that no additional liability shall be incurred by the plan pursuant to this section.
(Added by renumbering Section 24306.5 by Stats. 2014, Ch. 755, Sec. 54. (SB 1220) Effective January 1, 2015.)
2023 California Code › Education Code - EDC › TITLE 1 - GENERAL EDUCATION CODE PROVISIONS › DIVISION 1 - GENERAL EDUCATION CODE PROVISIONS › PART 13 - STATE TEACHERS' RETIREMENT SYSTEM › CHAPTER 28 - Options › Section 24342.

24342. (a) Any member who retired for service under Option 4 or Option 5 with an effective date prior to January 1, 1991, may elect to change Option 4 to Option 6 or Option 5 to Option 7 if all of the following conditions are met:
(1) The election is made during the three-month period commencing January 1, 1999, and ending March 31, 1999.
(2) The same beneficiary under Option 4 or Option 5 is named as beneficiary under Option 6 or Option 7.
(3) The change in options is consistent with Sections 22453 and 24322.
(4) The option beneficiary is not afflicted with any known terminal illness.
(5) The option beneficiary has not predeceased the retired member as of the effective date of the change in option.
(6) The election to change the option under this section is received at the system’s headquarters office at least 30 days prior to the death of the option beneficiary.
(b) Failure to satisfy all of the conditions in subdivision (a) shall render the change of election invalid.
(c) The change in options under this section shall be effective on the date the election is signed, provided all the conditions set forth in subdivision (a) are satisfied and the election is received at the system’s headquarters office within 30 days after the date of the signature.
(d) The election of a new joint and survivor option under this section is subject to a further modification of the modified retirement allowance. In no event may a retired member elect a joint and survivor option that would result in any additional liability to the fund.
(Added by renumbering Section 24306.7 by Stats. 2014, Ch. 755, Sec. 55. (SB 1220) Effective January 1, 2015.)
2023 California Code › Education Code - EDC › TITLE 1 - GENERAL EDUCATION CODE PROVISIONS › DIVISION 1 - GENERAL EDUCATION CODE PROVISIONS › PART 13 - STATE TEACHERS' RETIREMENT SYSTEM › CHAPTER 28 - Options › Section 24343.

24343. (a) Any member who retired for service under Option 2 or Option 3 with an effective date prior to January 1, 1991, whose option beneficiary had died prior to January 1, 1995, shall receive, effective January 1, 1999, the retirement allowance without modification for the option if all of the following conditions are met:
(1) The retired member is living as of January 1, 1999.
(2) The retired member has not elected a new option beneficiary under Section 24323.
(3) The retirement allowance without modification for the option payable as of January 1, 1999, is greater than the amount payable under the option, plus the amounts from annual benefit improvements, ad hoc benefit increases, and payments from the Supplemental Benefit Maintenance Account.
(4) The retired member does not inform the system in writing, on a form provided by the system, within 30 days of receipt of the notification of the change to the retirement allowance without modification for the option, of his or her election to continue to receive the option allowance.
(b) Any member who retired for service under Option 4 or Option 5 with an effective date prior to January 1, 1991, whose option beneficiary had died prior to January 1, 1999, shall receive effective January 1, 1999, the retirement allowance without modification for the option if all the following conditions are met:
(1) The retired member is living as of January 1, 1999.
(2) The retired member has not elected a new option beneficiary under Section 24323.
(3) The retirement allowance without modification for the option payable as of January 1, 1999, is greater than the amount payable under the option, plus the amount from annual benefit improvements, ad hoc benefit increases, and payments from the Supplemental Benefit Maintenance Account.
(4) The retired member does not inform the system in writing, on a form provided by the system, within 30 days of receipt of the notification of the change to the retirement allowance without modification for the option, of his or her election to continue to receive the option allowance.
(c) The change to the retirement allowance without modification for the option shall be consistent with Section 22453.
(d) A member retired for service who receives the retirement allowance without modification for the option provided under this section shall not elect a new option beneficiary under Section 24323.
(e) The cost of this section shall be paid by the transfer for that purpose of the one-time gain accrued to the State Teachers’ Retirement System from the difference between the contributions received pursuant to Sections 22901 and 22950 in the 1997–98 fiscal year minus the normal cost as displayed in the June 30, 1997, actuarial valuation.
(Added by renumbering Section 24313 by Stats. 2014, Ch. 755, Sec. 63. (SB 1220) Effective January 1, 2015.)
2023 California Code › Education Code - EDC › TITLE 1 - GENERAL EDUCATION CODE PROVISIONS › DIVISION 1 - GENERAL EDUCATION CODE PROVISIONS › PART 13 - STATE TEACHERS' RETIREMENT SYSTEM › CHAPTER 28 - Options › Section 24344.

24344. (a) A member who has a preretirement election of an option in effect on December 31, 1999, may change his or her preretirement election of Option 2, Option 3, Option 4, Option 5, Option 6, or Option 7 to Option 8 without the allowance reduction prescribed in Sections 24309 and 24310, provided the change is made on or after January 1, 2000, and prior to the earlier of July 1, 2000, or the member’s benefit effective date.
(b) If the member elects to change his or her option under this section then the member shall retain the same option and the same option beneficiary as named in the prior preretirement election of an option as one of the options under Option 8. The election to change the preretirement election under this section shall be void if not received in the system’s headquarters office at least 30 days prior to the death of the option beneficiary.
(c) This section shall become operative on January 1, 2000.
(Added by renumbering Section 24312 by Stats. 2014, Ch. 755, Sec. 61. (SB 1220) Effective January 1, 2015.)
2023 California Code › Education Code - EDC › TITLE 1 - GENERAL EDUCATION CODE PROVISIONS › DIVISION 1 - GENERAL EDUCATION CODE PROVISIONS › PART 13 - STATE TEACHERS' RETIREMENT SYSTEM › CHAPTER 28 - Options › Section 24346.

24346. (a) A member who has a preretirement election of an option in effect on December 31, 2006, pursuant to paragraphs (1) to (6), inclusive, of subdivision (a) of Section 24300 may change his or her preretirement election to an option described in paragraph (1), (2), or (3) of subdivision (a) of Section 24300.1 without the allowance reduction described in Sections 24309 and 24310, provided the change is made on or after January 1, 2007, and prior to July 1, 2007.
(b) A member who has a preretirement election of Option 8 as described in Section 24300 in effect on December 31, 2006, and in that Option 8 election has an option pursuant to paragraphs (1) to (6), inclusive, of subdivision (a) of Section 24300, may change any of the options under paragraphs (1) to (6), inclusive, of subdivision (a) of Section 24300 to an option described in paragraph (1), (2), or (3) of subdivision (a) of Section 24300.1 without the allowance reduction described in Sections 24309 and 24310, if change is made on or after January 1, 2007, and prior to July 1, 2007. A member may not change the portion of the unmodified benefit that would be modified pursuant to that prior option.
(c) The election to change the option by a member as described in this section shall be subject to all of the following:
(1) The member may not change the option beneficiary that was designated in the prior preretirement option election.
(2) The change in options under this section shall be effective on the date the election is signed, provided that the election is on a properly executed form provided by the system and received at the system’s headquarters office within 30 days of the date of the signature.
(d) If the member elects to change options as described in this section, the age of the member and the option beneficiary on the effective date of the prior preretirement option election shall be the age used to calculate the member’s benefit at the time of retirement.
(Added by renumbering Section 24312.1 by Stats. 2014, Ch. 755, Sec. 62. (SB 1220) Effective January 1, 2015.)
2023 California Code › Education Code - EDC › TITLE 1 - GENERAL EDUCATION CODE PROVISIONS › DIVISION 1 - GENERAL EDUCATION CODE PROVISIONS › PART 13 - STATE TEACHERS' RETIREMENT SYSTEM › CHAPTER 29 - Benefit Maintenance › Section 24400.

24400. The Legislature recognizes that inflation erodes the purchasing power of benefits paid under the plan under this part. It is the intent of the Legislature to understand the degree of erosion of these benefits.
(Amended by Stats. 2012, Ch. 728, Sec. 31. (SB 71) Effective January 1, 2013.)
2023 California Code › Education Code - EDC › TITLE 1 - GENERAL EDUCATION CODE PROVISIONS › DIVISION 1 - GENERAL EDUCATION CODE PROVISIONS › PART 13 - STATE TEACHERS' RETIREMENT SYSTEM › CHAPTER 29 - Benefit Maintenance › Section 24401.

24401. This chapter does not give any retired member, or a retired member’s successors in interest or beneficiary, any claim against the board, system, or plan for any increase in any allowance paid or payable prior to July 1, 1972.
(Amended by Stats. 1996, Ch. 634, Sec. 246. Effective January 1, 1997.)
2023 California Code › Education Code - EDC › TITLE 1 - GENERAL EDUCATION CODE PROVISIONS › DIVISION 1 - GENERAL EDUCATION CODE PROVISIONS › PART 13 - STATE TEACHERS' RETIREMENT SYSTEM › CHAPTER 29 - Benefit Maintenance › Section 24402.

24402. (a) Service retirement allowances, disability allowances, disability retirement allowances, family allowances, and survivor benefit allowances payable pursuant to this part shall be increased by application of the benefit improvement factor.
(b) Allowances payable to beneficiaries on account of options elected under Section 24300, 24300.1, 24307, or 24332 shall be increased by application of the improvement factor. This factor shall be applicable on the same date when it would have been applied to the allowance of the deceased person.
(c) The benefit improvement factor shall not be applied to an annuity that is the actuarial equivalent of the accumulated annuity deposit contributions standing to the credit of the member’s account on the effective date of a service or disability retirement.
(Amended by Stats. 2014, Ch. 755, Sec. 66. (SB 1220) Effective January 1, 2015.)
2023 California Code › Education Code - EDC › TITLE 1 - GENERAL EDUCATION CODE PROVISIONS › DIVISION 1 - GENERAL EDUCATION CODE PROVISIONS › PART 13 - STATE TEACHERS' RETIREMENT SYSTEM › CHAPTER 29 - Benefit Maintenance › Section 24403.

24403. The allowances that commenced to accrue prior to July 1, 1972, and payable on August 1, 1972, exclusive of annuities from the Annuity Deposit Fund and tax-sheltered annuities payable under former Sections 14193, 14280 and 14284, as those sections read on June 30, 1972, shall be increased by application of the benefit improvement factor on September 1, 1973, and annually thereafter.
(Repealed and added by Stats. 1993, Ch. 893, Sec. 2. Effective January 1, 1994.)
2023 California Code › Education Code - EDC › TITLE 1 - GENERAL EDUCATION CODE PROVISIONS › DIVISION 1 - GENERAL EDUCATION CODE PROVISIONS › PART 13 - STATE TEACHERS' RETIREMENT SYSTEM › CHAPTER 29 - Benefit Maintenance › Section 24404.

24404. (a) Effective July 1, 1973, the benefits of persons eligible for survivor benefits pursuant to former Section 14186 as it read on June 30, 1972, shall be increased as follows:
(1) Those eligible for ninety dollars ($90) per month shall be increased to one hundred five dollars ($105) per month.
(2) Those eligible for one hundred eighty dollars ($180) per month shall be increased to two hundred ten dollars ($210) per month.
(3) Those eligible for two hundred fifty dollars ($250) per month shall be increased to two hundred ninety-five dollars ($295) per month.
(b) These benefits shall be subject to the provisions of Sections 22140 and 24403 with the first annual improvement to occur on September 1, 1974, and annually thereafter.
(Amended by Stats. 2001, Ch. 803, Sec. 23. Effective January 1, 2002.)
2023 California Code › Education Code - EDC › TITLE 1 - GENERAL EDUCATION CODE PROVISIONS › DIVISION 1 - GENERAL EDUCATION CODE PROVISIONS › PART 13 - STATE TEACHERS' RETIREMENT SYSTEM › CHAPTER 29 - Benefit Maintenance › Section 24405.

24405. The first three hundred dollars ($300) of the monthly allowances payable to retired members, disabled members, and beneficiaries are increased as of July 1, 1976, as follows if the member had 20 or more years of credited service:
(a) For those with effective dates prior to July 1, 1972, 9 percent.
(b) For those with effective dates from July 1, 1972, to June 30, 1973, 6 percent.
(c) For those with effective dates from July 1, 1973, to June 30, 1974, 3 percent.
(Amended by Stats. 1996, Ch. 634, Sec. 247. Effective January 1, 1997.)
2023 California Code › Education Code - EDC › TITLE 1 - GENERAL EDUCATION CODE PROVISIONS › DIVISION 1 - GENERAL EDUCATION CODE PROVISIONS › PART 13 - STATE TEACHERS' RETIREMENT SYSTEM › CHAPTER 29 - Benefit Maintenance › Section 24406.

24406. The first three hundred dollars ($300) of the monthly allowances payable to retired members, disabled members, and beneficiaries are increased as of July 1, 1978, for those members receiving allowances on July 1, 1978, if the member had less than 20 years of credited service, as follows:
(a) For those with effective dates prior to July 1, 1972, 9 percent.
(b) For those with effective dates from July 1, 1972, to June 30, 1973, 6 percent.
(c) For those with effective dates from July 1, 1973, to June 30, 1974, 3 percent.
(Amended by Stats. 1996, Ch. 634, Sec. 248. Effective January 1, 1997.)
2023 California Code › Education Code - EDC › TITLE 1 - GENERAL EDUCATION CODE PROVISIONS › DIVISION 1 - GENERAL EDUCATION CODE PROVISIONS › PART 13 - STATE TEACHERS' RETIREMENT SYSTEM › CHAPTER 29 - Benefit Maintenance › Section 24407.

24407. (a) The monthly allowances payable to retired members, disabled members, and beneficiaries are increased as of January 1, 1980, for those persons receiving allowances with respect to members who retired or died prior to June 30, 1973, to the amount that results when the initial allowance that was received by those members is multiplied by the percentage set forth opposite the year of retirement or death in the following schedule:
Period During Which
Retirement or Death Occurred
Percentage
On or before June 30, 1958  ........................
180.4
12 months ending June 30, 1959  ........................
175.8
12 months ending June 30, 1960  ........................
172.2
12 months ending June 30, 1961  ........................
169.8
12 months ending June 30, 1962  ........................
167.8
12 months ending June 30, 1963  ........................
165.5
12 months ending June 30, 1964  ........................
163.0
12 months ending June 30, 1965  ........................
159.8
12 months ending June 30, 1966  ........................
156.7
12 months ending June 30, 1967  ........................
153.1
12 months ending June 30, 1968  ........................
147.5
12 months ending June 30, 1969  ........................
141.6
12 months ending June 30, 1970  ........................
134.5
12 months ending June 30, 1971  ........................
128.7
12 months ending June 30, 1972  ........................
124.5
12 months ending June 30, 1973  ........................
119.6
(b) For those retired members, disabled members, and beneficiaries receiving an allowance with an effective date prior to July 1, 1965, the initial allowance, for purposes of this section, shall be deemed to be the allowance payable on July 1, 1965. However, for purposes of determining the allowance payable under this section, the percentage corresponding to the actual year of retirement shall be applied.
(Amended by Stats. 1996, Ch. 634, Sec. 249. Effective January 1, 1997.)
2023 California Code › Education Code - EDC › TITLE 1 - GENERAL EDUCATION CODE PROVISIONS › DIVISION 1 - GENERAL EDUCATION CODE PROVISIONS › PART 13 - STATE TEACHERS' RETIREMENT SYSTEM › CHAPTER 29 - Benefit Maintenance › Section 24408.

24408. (a) The minimum unmodified allowance, exclusive of annuities from accumulated annuity deposit and tax-sheltered contributions, of a person retired prior to January 1, 1981, shall be an amount equal to at least sixteen dollars ($16) per month multiplied by the years of credited service. This guaranteed amount shall be increased as of October 1, 1980, and shall be reduced by the amount of an unmodified allowance payable from a local system based on service credited under this part. If the retirement was effective at less than age 60 years, this allowance shall be reduced by one-half of 1 percent for each full month or fraction of a month that would have elapsed until the retired member would have reached age 60 years. If the retired member elected to have the allowance modified under Option 2 or 3, the increase in the retired member’s allowance shall be modified under the option selected.
(b) The board may make lump sum payments for increases between October 1, 1980, and January 1, 1981.
(Amended by Stats. 1996, Ch. 634, Sec. 250. Effective January 1, 1997.)
2023 California Code › Education Code - EDC › TITLE 1 - GENERAL EDUCATION CODE PROVISIONS › DIVISION 1 - GENERAL EDUCATION CODE PROVISIONS › PART 13 - STATE TEACHERS' RETIREMENT SYSTEM › CHAPTER 29 - Benefit Maintenance › Section 24409.

24409. The minimum unmodified allowance, exclusive of annuities from accumulated annuity deposit and tax-sheltered contributions, of (a) a person who retired on or before December 31, 1981, (b) the option beneficiary of a person who retired on or before December 31, 1981, or (c) a person receiving a monthly allowance in lieu of the death benefit payable on account of the death of a member whose death occurred prior to July 1, 1972, shall be an amount equal to at least eighteen dollars ($18) per month multiplied by the years of credited service. This guaranteed amount is increased as of September 1, 1981, and is applicable to allowances paid on and after September 1, 1981. If the retirement was effective at less than age 60 years, this allowance shall be reduced by one-quarter of 1 percent for each full month or fraction of a month that would have elapsed until the retired member reached age 55 years, and the allowance shall be reduced by one-half of 1 percent for each full month or fraction of a month between age 55 and age 60 years. If the retired member elected to have his or her allowance modified under Option 2 or 3, the increase in the retired member’s allowance shall be modified under the option selected.
(Amended by Stats. 1996, Ch. 634, Sec. 251. Effective January 1, 1997.)
2023 California Code › Education Code - EDC › TITLE 1 - GENERAL EDUCATION CODE PROVISIONS › DIVISION 1 - GENERAL EDUCATION CODE PROVISIONS › PART 13 - STATE TEACHERS' RETIREMENT SYSTEM › CHAPTER 29 - Benefit Maintenance › Section 24410.

24410. (a) If projected final compensation is used to calculate the service retirement allowance following the termination of the disability allowance or if the disability allowance is continued as the lesser of the two allowance calculations under Section 24212 or 24213, then the original disability allowance effective date shall be retained as the base date for purposes of determining postretirement benefit increases.
(b) If the disability allowance effective date is used pursuant to subdivision (a), then for purposes of determining supplemental benefits pursuant to Sections 24412 and 24415, the base allowance shall be determined as follows:
(1) If the disability allowance is continued pursuant to Section 24212 or 24213, the base allowance shall be equal to the disability allowance prior to all allowance increases made pursuant to this part.
(2) If the disability allowance is not continued pursuant to Section 24212 or 24213, the base allowance shall be based on the factors used to calculate the service retirement allowance, except that projected final compensation shall be replaced with the final compensation upon which the disability allowance was based.
(3) The base allowance determined pursuant to this subdivision shall be modified for an option, if applicable.
(c) This section shall be applicable for determining the base date for applicable postretirement increases made on or after January 1, 1982.
(d) This section shall only apply to service retirements effective the day after the termination date of the disability allowance.
(Amended by Stats. 2016, Ch. 218, Sec. 36. (SB 1352) Effective January 1, 2017.)
2023 California Code › Education Code - EDC › TITLE 1 - GENERAL EDUCATION CODE PROVISIONS › DIVISION 1 - GENERAL EDUCATION CODE PROVISIONS › PART 13 - STATE TEACHERS' RETIREMENT SYSTEM › CHAPTER 29 - Benefit Maintenance › Section 24410.7.

24410.7. (a) The monthly allowance payable on the effective date of this section, excluding annuities payable from accumulated annuity deposit contributions and tax-sheltered annuity contributions and benefits payable pursuant to Sections 24410.5 and 24410.6, to retired members and nonmember spouses, disabled members, and beneficiaries, including option beneficiaries, shall be increased by the percentage set forth opposite the applicable period during which retirement, disability, or death occurred set forth in the following schedule:
Period during which retirement,
disability, or death occurred:
Percentage:
36 months ending Dec. 31, 2000
0.0%
12 months ending Dec. 31, 1997
1.0%
24 months ending Dec. 31, 1996
2.0%
60 months ending Dec. 31, 1994
3.0%
60 months ending Dec. 31, 1989
4.0%
120 months ending Dec. 31, 1984
5.0%
Dec. 31, 1974 or earlier
6.0%
(b) The increase provided pursuant to this section is in addition to any payments received by a retired member or nonmember spouse, disabled member, or beneficiary, including an option beneficiary, under Section 24415.
(c) If the monthly allowance payable is adjusted after the effective date of this section, the percentage increase applied on the effective date of this section shall be applied to the adjusted monthly allowance payable.
(d) Benefits payable under this section shall be initially payable by the system on or before July 1, 2001.
(Amended by Stats. 2007, Ch. 323, Sec. 15. Effective January 1, 2008.)
2023 California Code › Education Code - EDC › TITLE 1 - GENERAL EDUCATION CODE PROVISIONS › DIVISION 1 - GENERAL EDUCATION CODE PROVISIONS › PART 13 - STATE TEACHERS' RETIREMENT SYSTEM › CHAPTER 29 - Benefit Maintenance › Section 24410.8.

24410.8. (a) The quarterly supplemental payments made from the Supplemental Benefit Maintenance Account pursuant to Section 24415 as of July 1, 2023, shall be increased as follows:
Period during which retirement,
disability, or death occurred:
Percentage increase:
After Dec. 31, 1998
0.0%
Between Jan. 1, 1990, and Dec. 31, 1998
5.0%
Between Jan. 1, 1980, and Dec. 31, 1989
10.0%
Prior to Jan. 1, 1980
15.0%
(b) The increase provided by this section shall be determined on July 1, 2023, by applying the applicable percentage to the sum of the monthly allowance, including all allowance increases authorized by this part, and excluding annuities payable from accumulated annuity deposit contributions and tax-sheltered annuity contributions, and the monthly equivalent of any purchasing power payments made pursuant to Section 24415.
(c) Two percent of the amount determined pursuant to subdivision (b) shall be added to the increase provided by subdivision (a) each year commencing on July 1, 2024. This amount shall not be compounded.
(d) The increases provided pursuant to this section shall be paid quarterly and are in addition to any payments received by a retired member or nonmember spouse, disabled member, or beneficiary, including an option beneficiary, under Section 24415.
(e) If the monthly allowance payable is adjusted after the effective date of this section, the percentage increase applied on the effective date of this section shall be applied to the adjusted monthly allowance payable.
(f) The increases provided by this section are not part of the base allowance and will be payable only to the extent that funds are available from the Supplemental Benefit Maintenance Account as provided pursuant to Section 24415.
(g) The increases authorized by this section are vested only up to the amount payable as a result of the annual appropriation made pursuant to Section 22954, the application of Section 24415, and the adjustments made by the board pursuant to Section 24415.5.
(h) Benefits payable under this section shall be initially payable by the system on July 1, 2023.
(Added by Stats. 2022, Ch. 818, Sec. 1. (SB 868) Effective January 1, 2023.)
2023 California Code › Education Code - EDC › TITLE 1 - GENERAL EDUCATION CODE PROVISIONS › DIVISION 1 - GENERAL EDUCATION CODE PROVISIONS › PART 13 - STATE TEACHERS' RETIREMENT SYSTEM › CHAPTER 29 - Benefit Maintenance › Section 24412.

24412. (a) The annual revenues deposited to the Teachers’ Retirement Fund pursuant to Section 6217.5 of the Public Resources Code are continuously appropriated without regard to fiscal year for the purposes of this section and shall be distributed annually in quarterly supplemental payments commencing on September 1 of each year to retired members, disabled members, and beneficiaries under the Defined Benefit Program. The amount available for distribution in any year shall be the income for that year from the sale or use of school lands and lieu lands, as estimated by the State Lands Commission prior to the beginning of the fiscal year, adjusted by the difference between the estimated and actual income for the preceding fiscal year. The board shall deduct from the revenues an amount necessary for administrative expenses to implement this section.
(b) The net revenues to be distributed shall be allocated among those retired members, disabled members, and beneficiaries, as defined in subdivision (a) of Section 22107, whose allowances under the Defined Benefit Program, after applying the annual improvement factor as defined in Section 22140, if any, are below 80 percent of the purchasing power of the base allowance. The purchasing power calculation for each individual allowance shall be based on the change in the All Urban California Consumer Price Index between June of the calendar year of retirement and June of the fiscal year preceding the fiscal year of the distribution. The allocation shall provide a pro rata share of the amount needed to restore the allowance payable, after application of the current year annual improvement factor to 80 percent of the purchasing power of the base allowance.
(c) The allowance increase shall not be applicable to annuities payable from the accumulated annuity deposit contributions or the accumulated tax-sheltered annuity contributions.
(d) In any year that the net revenues from school lands and lieu lands is greater than that needed to adjust the allowances of all retired members, disabled members, and beneficiaries, as defined in subdivision (a) of Section 22107, under the Defined Benefit Program to 80 percent of the purchasing power of the base allowance, the net revenues in excess of that needed for distribution shall be used by the board to reduce the unfunded actuarial obligation of the fund, if any.
(e) The board shall inform each recipient of supplemental payments under this section that the increases are not cumulative and are not part of the base allowance.
(Amended by Stats. 2014, Ch. 755, Sec. 67. (SB 1220) Effective January 1, 2015.)
2023 California Code › Education Code - EDC › TITLE 1 - GENERAL EDUCATION CODE PROVISIONS › DIVISION 1 - GENERAL EDUCATION CODE PROVISIONS › PART 13 - STATE TEACHERS' RETIREMENT SYSTEM › CHAPTER 29 - Benefit Maintenance › Section 24413.

24413. Notwithstanding Section 24412, revenues from school lands or lieu lands related to the claim of the State of California to the school lands within the area referred to as the Elk Hills Naval Petroleum Reserve, shall be deposited in the Supplemental Benefit Maintenance Account.
(Amended by Stats. 1997, Ch. 939, Sec. 5. Effective January 1, 1998.)
2023 California Code › Education Code - EDC › TITLE 1 - GENERAL EDUCATION CODE PROVISIONS › DIVISION 1 - GENERAL EDUCATION CODE PROVISIONS › PART 13 - STATE TEACHERS' RETIREMENT SYSTEM › CHAPTER 29 - Benefit Maintenance › Section 24416.

24416. (a) If the board determines by June 30 of the then current fiscal year that the Supplemental Benefit Maintenance Account will not have sufficient funds to provide purchasing power protection benefits, as established in this chapter, of at least 80 percent for the subsequent fiscal year, the board, for that year, may do either, or a combination of the following:
(1) Increase the employer contribution rate commencing in the next fiscal year by an amount that would provide sufficient funds for no more than the estimated difference between the funds in the Supplemental Benefit Maintenance Account and the amount needed to pay the benefit level specified by the board, provided the benefit level is no more than 85 percent. Notwithstanding any other provision of this part, the increase in the employer contribution rate shall only become operative if the increase is approved or authorized in the Budget Act.
(2) Reduce the supplemental benefit payment for the subsequent fiscal year to the amount that can be funded by the available funds in the Supplemental Benefit Maintenance Account.
(b) If the board finds that there is no unfunded obligation, as determined by the board’s professional consulting actuary and affirmed by the Director of Finance, then in addition to the authority pursuant to subdivision (a), the board may transfer to an auxiliary Supplemental Benefit Maintenance Account, from any funds that are in excess of the amount needed to fund fully the benefits for which the Teachers’ Retirement Fund is liable, an amount that would provide sufficient funds for no more than the estimated difference between the funds in the Supplemental Benefit Maintenance Account and the amount needed to pay the benefit level specified by the board, provided the benefit level is no more than 85 percent.
(c) If the board increases the employer contribution rate pursuant to paragraph (1) of subdivision (a), the increase between the current fiscal year contribution rate and the contribution rate in the next fiscal year, shall not exceed one-quarter of 1 percent of the creditable compensation upon which contributions are based.
(Amended by Stats. 2008, Ch. 751, Sec. 15. Effective September 30, 2008.)