(a) The termination benefit under this part shall not be payable before 180 calendar days have elapsed following the date of termination of employment.
(b) Except as provided in subdivision (c), the application for the termination benefit shall be automatically canceled if the participant performs creditable service within 180 calendar days following the date of termination of employment.
(c) Subdivision (b) does not apply if the participant has reached that age at which the Internal Revenue Code of 1986 requires a distribution of benefits. A participant who has reached this age shall receive a distribution commencing on the earlier of the date that the participant has met the conditions of subdivision (a) or the conditions of subdivision (c) of Section 26004.
(Amended by Stats. 2020, Ch. 275, Sec. 23. (AB 2101) Effective January 1, 2021.)