The stuff that's settled out after about 20 minutes is mostly trub, the yeast is still mostly suspended in the water.
So, rack pr pour out some of the water/yeast mix from carboy to another (sanitized) jar and let it sit for another 20 minutes. More trub will settle out, then you can pour off the yeast/water mixture into your storage jars, being sure to fill them to the top, put the lids on and pop them in the fridge.
I'm sure there's more than one way to do this, but that's how I do it (i learned from Bernie Brewer's sticky thread here on yeast washing). In my experience, it works great!