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HomeGovernment CodeDiv. 5Pt. 3Ch. 13Art. 6§ 21461 Retirement Annuity Payment Options

§ 21461 Retirement Annuity Payment Options

Government Code·California
AI Summary·Official Text·Key Terms·Related Statutes·References
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§ 21461 Retirement Annuity Payment Options

Key Takeaways

  • •If you retire, you can choose to split your retirement money into two parts: a temporary extra payment and a regular payment for life.
  • •The temporary extra payment can't be more than half of your total retirement money.
  • •The temporary extra payment stops when you turn 59 and a half or any age between 60 and 68 that you pick when you retire.
  • •If you die before the temporary payment ends, the rest of that money goes to the person you chose as your beneficiary.

Example

John retires at 55 and chooses to get a temporary extra payment until he turns 60.

John will get extra money every month on top of his regular retirement pay until he is 60. If he dies before 60, the remaining extra money goes to his family.

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

Official Source
View on CA.gov

§ 21461 Retirement Annuity Payment Options

(a) A member retiring for service may elect to have the actuarial equivalent of his or her unmodified service retirement allowance paid in two parts as follows: (1) A temporary annuity in an amount specified by the member but which shall not result in a reduction to his or her unmodified allowance by more than 50 percent. (2) A life income consisting of his or her service retirement annuity plus the pension provided by the actuarial value of his or her current and prior service pensions remaining after providing the temporary annuity in paragraph (1). (b) The temporary annuity under subdivision (a) shall not be subject to further optional settlement under this article and shall be payable monthly as an addition to the member’s monthly life income beginning on his or her effective date of retirement and continuing until the member reaches 59 years and six months of age or any whole age between 60 and 68 years of age, as designated by the member at the time of his or her retirement. If his or her death occurs prior to that age, the commuted value of any remaining installments shall be paid to his or her designated beneficiary in a lump sum. This section shall apply to any member who retires on or before December 31, 2017. (Amended by Stats. 2016, Ch. 199, Sec. 16. (AB 2404) Effective January 1, 2017.)

Last verified: January 22, 2026

Key Terms

unmodified service retirement allowancetemporary annuitylife incomeactuarial equivalent

Related Statutes

  • § 21461.5 Retirement Benefit Payment Options
  • § 21479 Retirement Annuity Payment Options
  • § 21480 Retirement Benefit Payment Options
  • § 21458 Retirement Benefit Settlement Options
  • § 21464 Post-Retirement Spousal Benefit Election

References

  • Official text at leginfo.legislature.ca.gov
  • California Legislature. Government Code. Section 21461.
View Official Source