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HomeEducation CodeDiv. 1Pt. 13Ch. 38Art. 6§ 25023 Annuity Beneficiary Death Payments

§ 25023 Annuity Beneficiary Death Payments

Education Code·California
AI Summary·Official Text·Key Terms·Related Statutes·References
AI SummaryVerified

§ 25023 Annuity Beneficiary Death Payments

Key Takeaways

  • •If someone getting a joint annuity dies, the last payment goes to the person they chose.
  • •If someone getting a single-life annuity dies, the last payment goes to the person they chose.
  • •If someone getting a period-certain annuity dies, the remaining money is paid in one lump sum to the person they chose.

Example

A retired person gets monthly payments from an annuity and passes away.

The last payment they were supposed to get will be given all at once to the person they picked to receive it.

AI-generated — May contain errors. Not legal advice. Always verify source.

Official Source
View on CA.gov

§ 25023 Annuity Beneficiary Death Payments

(a) Upon the death of an annuity beneficiary who was receiving an annuity under a joint and survivor annuity elected by the member no further payment shall be made other than the accrued annuity for the month in which the annuity beneficiary’s death occurred, which shall be paid in a lump sum to the payee designated by the annuity beneficiary. (b) Upon the death of a beneficiary who was receiving a single life annuity without a cash refund feature, no further payment shall be made other than the accrued annuity for the month in which the beneficiary’s death occurred, which shall be paid in a lump sum to the payee designated by the beneficiary. (c) Upon the death of a beneficiary who was receiving a period certain annuity, the actuarial equivalent of the remaining balance of payments shall be paid in a lump sum to the payee designated by the beneficiary pursuant to subdivision (c) of Section 25015. (Amended by Stats. 2002, Ch. 375, Sec. 34. Effective January 1, 2003.)

Last verified: January 23, 2026

Key Terms

joint and survivor annuitysingle life annuityperiod certain annuityactuarial equivalentlump sumpayee designated by the beneficiary

Related Statutes

  • § 25021 Beneficiary Annuity Election Rules
  • § 25022.5 Nonmember Spouse Annuity Benefits
  • § 27008 Beneficiary Death Annuity Payments
  • § 25011 Annuity Payment Election
  • § 25011.1 Annuity Payment Election

References

  • Official text at leginfo.legislature.ca.gov
  • California Legislature. Education Code. Section 25023.
View Official Source