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HomeGovernment CodeDiv. 4Pt. 3Ch. 3Art. 1.5§ 31494 Voluntary Retirement Plan Transfer

§ 31494 Voluntary Retirement Plan Transfer

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

§ 31494 Voluntary Retirement Plan Transfer

Key Takeaways

  • •You can choose to switch to a new retirement plan, but once you do, you can't change your mind.
  • •If you switch, your old retirement benefits go away, but you still get credit for the time you worked before.
  • •Your boss and your work group have to agree to let people switch plans, and the boss has to say it's okay.

Example

Imagine you work for the city and have been saving for retirement in one plan. Your boss and your work group agree to let people switch to a new retirement plan.

If you decide to switch to the new plan, you can't go back to the old one. You'll lose the retirement money you had saved in the old plan, but the time you worked before switching still counts. It's like changing teams in a game—you start fresh with the new team, but your old scores don't come with you.

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

Official Source
View on CA.gov

§ 31494 Voluntary Retirement Plan Transfer

(a) General members may elect to transfer to the retirement plan created by this article upon proper application executed by the member and filed with the board. That transfer is voluntary and shall be irrevocable. (b) The retirement benefits of the transferred members are governed and defined by this article. (c) Transferring members relinquish and waive any and all previously available vested or accrued retirement, survivor, disability and death benefits. However, notwithstanding any other provision of this article, transferring members shall receive credit for public service performed prior to the transfer, including service with the employer, military service, and other public service to which the member would otherwise be eligible under this chapter, except that member contributions shall not be collected. (d) This section shall be operative at any time or times as may be mutually agreed to in memoranda of understanding executed by the employer and employee representatives if the board of supervisors adopts, by majority vote, a resolution declaring that the section shall be operative. (e) This section shall be superseded by Section 31494.2 in any county when Section 31494.2 becomes operative in the county. (Amended by Stats. 2001, Ch. 778, Sec. 5. Effective October 13, 2001.)

Last verified: January 22, 2026

Key Terms

retirementdisabilityresolutionfinesurvivorbenefitsemployerdeath

Related Statutes

  • § 31486.9 Retirement Plan Transfer Election
  • § 31490 Public Service Credit Restrictions
  • § 31498.3 Retirement Plan Transfer Rules
  • § 31499 County Optional Retirement Plan
  • § 31739.34 Disability Retirement Allowance Increase

References

  • Official text at leginfo.legislature.ca.gov
  • California Legislature. Government Code. Section 31494.
View Official Source