Current through the 2023 Legislative Session.
(a) "Annuity," with respect to the Defined Benefit Program, means payments for life derived from the "accumulated annuity deposit contributions" of a member.(b) "Annuity," with respect to the Defined Benefit Supplement Program, means an alternative payment arrangement wherein a benefit based on the balance of credits in a member's Defined Benefit Supplement account is paid monthly rather than in a lump-sum.Amended by Stats 2000 ch 74 (AB 1509), s 6, eff. 1/1/2001.