WEST virginia legislature
2017 regular session
Committee Substitute
for
House Bill 2586
By Delegates Walters,
Folk, Anderson, Hamilton,
O’Neal, E. Evans and Pethtel
[Originating in the Committee on Finance;
March 10, 2017]
A BILL to amend and reenact §5-10-27b of the Code of West Virginia, 1931, as amended; to amend and reenact §7-14D-9b of said code; to amend and reenact §8-22A-11 of said code; to amend and reenact §15-2-45 of said code; to amend and reenact §15-2A-6b of said code; to amend and reenact §16-5V-13 of said code; to amend and reenact §18-7A-28b of said code; to amend and reenact §18-7B-12a of said code; and to amend and reenact §51-9-12b of said code, all relating to required minimum distribution of retirement benefits of plans administered by the Consolidated Public Retirement Board; providing for treatment of benefits in the event of a members death; and bringing code into conformity with federal law.
Be it enacted by the Legislature of West Virginia:
That §5-10-27b of the Code of West Virginia, 1931, as amended, be amended and reenacted; that §7-14D-9b of said code be amended and reenacted; that §8-22A-11 of said code be amended and reenacted; that §15-2-45 of said code be amended and reenacted; that §15-2A-6b of said code be amended and reenacted; that §16-5V-13 of said code be amended and reenacted; that §18-7A-28b of said code be amended and reenacted; that §18-7B-12a of said code be amended and reenacted; and that §51-9-12b of said code be amended and reenacted, all to read as follows:
CHAPTER 5. GENERAL POWERS AND AUTHORITY OF THE GOVERNOR, SECRETARY OF STATE AND ATTORNEY GENERAL; BOARD OF PUBLIC WORKS; MISCELLANEOUS AGENCIES, COMMISSIONS, OFFICES, PROGRAMS, ETC.
ARTICLE 10. WEST VIRGINIA PUBLIC EMPLOYEES RETIREMENT ACT.
§5-10-27b. Federal law minimum required distributions.
The requirements of this
section apply to any distribution of a member's or beneficiary's interest and
take precedence over any inconsistent provisions of this code. This provision
applies to plan years beginning after December 31, 1986. Notwithstanding
anything in this code to the contrary, the payment of benefits under this
article shall be determined and made in accordance with Section 401(a)(9) of
the Internal Revenue Code and the federal regulations promulgated thereunder as
applicable to governmental plans. Any term used in this article has the same
meaning as when used in a comparable context in Section 401(a)(9) of the
Internal Revenue Code and the federal regulations promulgated thereunder unless
a different meaning is clearly required by the context or definition in this
article. For this purpose, the The following provisions
apply to payments of benefits required under this article:
(a) The payment of benefits under the retirement system to any member shall be distributed to him or her not later than the required beginning date, or be distributed to him or her commencing not later than the required beginning date, in accordance with regulations prescribed under Section 401(a)(9) of the Internal Revenue Code, over the life of the member or over the lives of the member and his or her beneficiary or over a period not extending beyond the life expectancy of the member and his or her beneficiary: Provided, That the requirements of this section shall not be construed to grant a right to a form of benefit which is not otherwise available to a particular member under this retirement system. Benefit payments under this section shall not be delayed pending, or contingent upon, receipt of an application for retirement from the member.
(b) If a member dies after distribution to him or her has commenced pursuant to this section but before his or her entire interest in the retirement system has been distributed, then the remaining portion of that interest shall be distributed at least as rapidly as under the method of distribution being used at the date of his or her death.
(c) If a member dies
before distribution to him or her has commenced, then his or her entire
interest in the retirement system will is to be distributed by
December 31 of the calendar year containing the fifth anniversary of the member's
death, except as follows unless the provisions of subsection (d) of
this section apply.
(1) (d) If a
member dies before distribution to him or her has commenced, and the
member's interest is payable eligible to be paid in the form of a
survivor annuity to a designated beneficiary, distributions may
are to be made over the life of that beneficiary or over a period
certain not greater than the life expectancy of that beneficiary, commencing on
or before the following:
(1) December 31 of the calendar year immediately following the calendar year in which the member died; or
(2) If the member's sole
designated beneficiary is either the surviving spouse or a former
spouse who, as an alternate payee under a Qualified Domestic Relations Order,
is receiving one hundred percent of the survivor benefit, the date
distributions are required to begin shall be no later than the later
are to commence on or before the later of:
(A) December 31 of the calendar year in which the member would have attained age seventy and one-half; or
(B) The earlier of: (i)
December 31 of the calendar year immediately following the calendar year
in which the member died; or (ii) December 31 of the calendar year following
the calendar year in which the spouse died.
(e) If a member dies before distribution to him or her has commenced and the survivor annuity provisions of subsection (d) of this section are not applicable, any designated beneficiary who is eligible to receive a distribution pursuant to the provisions of subsection (c) of this section may elect to have life expectancy treatment apply to the distribution for purposes of determining whether any portion of the distribution is an eligible rollover distribution: Provided, That any such election shall not delay the required distribution of the deceased member’s entire interest in the retirement system beyond December 31 of the calendar year containing the fifth anniversary of the member’s death as required by subsection (c) of this section: Provided, however, That the election is timely made in a form acceptable to the board on or before the following:
(1) December 31 of the calendar year immediately following the calendar year in which the member died; or
(2) If the member’s sole designated beneficiary is either the surviving spouse or a former spouse who, as an alternate payee under a Qualified Domestic Relations Order, is receiving one hundred percent of the survivor benefit, election of life expectancy treatment must be made on or before the earlier of (A) or (B) below:
(A) The later of: (i) December 31 of the calendar year immediately following the calendar year in which the member died; or (ii) December 31 of the calendar year in which the member would have attained age seventy and one-half; or
(B) October 31 of the calendar year containing the fifth anniversary of the member’s death.
CHAPTER 7. COUNTY COMMISSIONS AND OFFICERS.
ARTICLE 14D. DEPUTY SHERIFF RETIREMENT SYSTEM ACT.
§7-14D-9b. Federal law minimum required distributions.
The requirements of this
section apply to any distribution of a member's or beneficiary's interest and
take precedence over any inconsistent provisions of this plan. This section
applies to plan years beginning after December 31, 1986. Notwithstanding
anything in the plan to the contrary, the payment of benefits under this
article shall be determined and made in accordance with Section 401(a)(9) of
the Internal Revenue Code and the federal regulations promulgated
thereunder as applicable to governmental plans. Any term used in this article
has the same meaning as when used in a comparable context in Section 401(a)(9)
of the Internal Revenue Code and the federal regulations promulgated thereunder
unless a different meaning is clearly required by the context or definition in
this article. For this purpose, the The following provisions
apply to payments of benefits required under this article:
(a) The payment of benefits under the plan to any member shall be distributed to him or her not later than the required beginning date, or be distributed to him or her commencing not later than the required beginning date, in accordance with regulations prescribed under Section 401(a)(9) of the Internal Revenue Code, over the life of the member or over the lives of the member and his or her beneficiary or over a period not extending beyond the life expectancy of the member and his or her beneficiary: Provided, That the requirements of this section shall not be construed to grant a right to a form of benefit which is not otherwise available to a particular member under this retirement system. Benefit payments under this section shall not be delayed pending, or contingent upon, receipt of an application for retirement from the member.
(b) If a member dies after distribution to him or her has commenced pursuant to this section but before his or her entire interest in the plan has been distributed, then the remaining portion of that interest shall be distributed at least as rapidly as under the method of distribution being used at the date of his or her death.
(c) If a member dies before
distribution to him or her has commenced, then his or her entire interest in the
retirement system will is to be distributed by December 31 of the
calendar year containing the fifth anniversary of the member's death, except
as follows unless the provisions of subsection (d) of this section
apply.
(1) (d) If a
member dies before distribution to him or her has commenced, and the
member's interest is payable eligible to be paid in the form of a
survivor annuity to a designated beneficiary, distributions may
are to be made over the life of that beneficiary or over a period
certain not greater than the life expectancy of that beneficiary, commencing on
or before the following:
(1) December 31 of the calendar year immediately following the calendar year in which the member died; or
(2) If the member's sole
designated beneficiary is either the surviving spouse or a former
spouse who, as an alternate payee under a Qualified Domestic Relations Order,
is receiving one hundred percent of the survivor benefit, the date
distributions are required to begin shall be no later than the later
are to commence on or before the later of:
(A) December 31 of the calendar year in which the member would have attained age seventy and one-half; or
(B) The earlier of: (i)
December 31 of the calendar year immediately following the calendar year
in which the member died; or (ii) December 31 of the calendar year following
the calendar year in which the spouse died.
(e) If a member dies before distribution to him or her has commenced and the survivor annuity provisions of subsection (d) of this section are not applicable, any designated beneficiary who is eligible to receive a distribution pursuant to the provisions of subsection (c) of this section may elect to have life expectancy treatment apply to the distribution for purposes of determining whether any portion of the distribution is an eligible rollover distribution: Provided, That any such election shall not delay the required distribution of the deceased member’s entire interest in the retirement system beyond December 31 of the calendar year containing the fifth anniversary of the member’s death as required by subsection (c) of this section: Provided, however, That the election is timely made in a form acceptable to the board on or before the following:
(1) December 31 of the calendar year immediately following the calendar year in which the member died; or
(2) If the member’s sole designated beneficiary is either the surviving spouse or a former spouse who, as an alternate payee under a Qualified Domestic Relations Order, is receiving one hundred percent of the survivor benefit, election of life expectancy treatment must be made on or before the earlier of (A) or (B) below:
(A) The later of: (i) December 31 of the calendar year immediately following the calendar year in which the member died; or (ii) December 31 of the calendar year in which the member would have attained age seventy and one-half; or
(B) October 31 of the calendar year containing the fifth anniversary of the member’s death.
CHAPTER 8. MUNICIPAL CORPORATIONS.
ARTICLE 22A - WEST VIRGINIA MUNICIPAL POLICE OFFICERS AND FIREFIGHTERS RETIREMENT SYSTEM.
§8-22A-11. Federal law minimum required distributions.
The requirements of this
section apply to any distribution of a member's or beneficiary's interest and
take precedence over any inconsistent provisions of this plan. This section
applies to plan years beginning after December 31, 1986. Notwithstanding
anything in the plan to the contrary, the payment of benefits under this
article shall be determined and made in accordance with Section 401(a)(9) of
the Internal Revenue Code and it’s the federal regulations promulgated
thereunder as applicable to governmental plans. Any term used in this article
has the same meaning as when used in a comparable context in Section 401(a)(9)
of the Internal Revenue Code and the federal regulations promulgated thereunder
unless a different meaning is clearly required by the context or definition in
this article. For this purpose, the The following provisions
apply to payments of benefits required under this article:
(a) The payment of benefits under the plan to any member shall be distributed to him or her not later than the required beginning date, or be distributed to him or her commencing not later than the required beginning date, in accordance with regulations prescribed under Section 401(a)(9) of the Internal Revenue Code, over the life of the member or over the lives of the member and his or her beneficiary or over a period not extending beyond the life expectancy of the member and his or her beneficiary: Provided, That the requirements of this section shall not be construed to grant a right to a form of benefit which is not otherwise available to a particular member under this retirement system. Benefit payments under this section shall not be delayed pending, or contingent on, receipt of an application for retirement from the member.
(b) If a member dies after distribution to him or her has commenced pursuant to this section but before his or her entire interest in the plan has been distributed, then the remaining portion of that interest shall be distributed at least as rapidly as under the method of distribution being used at the date of his or her death.
(c) If a member dies before
distribution to him or her has commenced, then his or her entire interest in
the plan shall is to be distributed by December 31 of the
calendar year containing the fifth anniversary of the member's death, except
as follows: unless the provisions of subsection (d) of this section
apply.
(1) (d) If a
member dies before distribution to him or her has commenced, and the
member's interest is payable eligible to be paid in the form of a
survivor annuity to a designated beneficiary, distributions may
are to be made over the life of that beneficiary or over a period certain
not greater than the life expectancy of that beneficiary, commencing on or
before the following:
(1) December 31 of the calendar year immediately following the calendar year in which the member died; or
(2) If the member's sole
designated beneficiary is either the surviving spouse or a former
spouse who, as an alternate payee under a Qualified Domestic Relations Order,
is receiving one hundred percent of the survivor benefit, the date
distributions are required to begin shall be no later than the later
are to commence on or before the later of:
(A) December 31 of the calendar year in which the member would have attained age seventy and one-half; or
(B) The earlier of: (i)
December 31 of the calendar year immediately following the calendar year
in which the member died; or (ii) December 31 of the calendar year following
the calendar year in which the spouse died.
(e) If a member dies before distribution to him or her has commenced and the survivor annuity provisions of subsection (d) of this section are not applicable, any designated beneficiary who is eligible to receive a distribution pursuant to the provisions of subsection (c) of this section may elect to have life expectancy treatment apply to the distribution for purposes of determining whether any portion of the distribution is an eligible rollover distribution: Provided, That any such election shall not delay the required distribution of the deceased member’s entire interest in the retirement system beyond December 31 of the calendar year containing the fifth anniversary of the member’s death as required by subsection (c) of this section: Provided, however, That the election is timely made in a form acceptable to the board on or before the following:
(1) December 31 of the calendar year immediately following the calendar year in which the member died; or
(2) If the member’s sole designated beneficiary is either the surviving spouse or a former spouse who, as an alternate payee under a Qualified Domestic Relations Order, is receiving one hundred percent of the survivor benefit, election of life expectancy treatment must be made on or before the earlier of (A) or (B) below:
(A) The later of: (i) December 31 of the calendar year immediately following the calendar year in which the member died; or (ii) December 31 of the calendar year in which the member would have attained age seventy and one-half; or
(B) October 31 of the calendar year containing the fifth anniversary of the member’s death.
CHAPTER 15. PUBLIC SAFETY.
ARTICLE 2. WEST VIRGINIA STATE POLICE.
§15-2-45. Federal law minimum required distributions.
The requirements of this section apply to any
distribution of a member's or beneficiary's interest and take precedence over
any inconsistent provisions of this code. This section applies to plan years
beginning after December 31, 1998 1986. Notwithstanding anything
in the retirement system to the contrary, the payment of benefits under this
article shall be determined and made in accordance with Section 401(a)(9) of
the Internal Revenue Code and the federal regulations promulgated
thereunder as applicable to governmental plans. Any term used in this
article has the same meaning as when used in a comparable context in Section
401(a)(9) of the Internal Revenue Code and the federal regulations promulgated
thereunder unless a different meaning is clearly required by the context or
definition in this article. For this purpose, the The
following provisions apply to payments of benefits required under this
article:
(a) The payment of benefits under the fund to any member shall be distributed to him or her not later than the required beginning date, or be distributed to him or her commencing not later than the required beginning date, in accordance with regulations prescribed under Section 401(a)(9) of the Internal Revenue Code, over the life of the member or over the lives of the member and his or her beneficiary, or over a period not extending beyond the life expectancy of the member and his or her beneficiary: Provided, That the requirements of this section may not be construed to grant a right to a form of benefit which is not otherwise available to a particular member under this retirement system. For purposes of this section, the term "required beginning date" means April 1 of the calendar year following the later of: (i) The calendar year in which the member attains age seventy and one-half; or (ii) the calendar year in which the member retires or otherwise ceases providing covered service under this fund. Benefit payments under this section shall not be delayed pending, or contingent upon, receipt of an application for retirement from the member.
(b) If a member dies after distribution to him or her has commenced pursuant to this section but before his or her entire interest in the retirement system has been distributed, then the remaining portion of that interest shall be distributed at least as rapidly as under the method of distribution being used at the date of his or her death.
(c) If a member dies before
distribution to him or her has commenced, then his or her entire interest in
the fund shall is to be distributed by December 31 of the
calendar year containing the fifth anniversary of the member's death, except
as follows unless the provisions of subsection (d) of this section
apply.
(1) (d) If a
member dies before distribution to him or her has commenced, and the
member's interest is payable eligible to be paid in the form of a
survivor annuity to a designated beneficiary, distributions may
are to be made over the life of that beneficiary or over a period
certain not greater than the life expectancy of that beneficiary, commencing on
or before the following:
(1) December 31 of the calendar year immediately following
the calendar year in which the participant member died; or
(2) If the member's sole
designated beneficiary is either the surviving spouse or a former
spouse who, as an alternate payee under a Qualified Domestic Relations Order,
is receiving one hundred percent of the survivor benefit, the date
distributions are required to begin shall be no later than the later
are to commence on or before the later of:
(A) December 31 of the calendar year in which the member would have attained age seventy and one-half; or
(B) The earlier of: (i)
December 31 of the calendar year immediately following the calendar year
in which the member died; or (ii) December 31 of the calendar year following
the calendar year in which the spouse died.
(e) If a member dies before distribution to him or her has commenced and the survivor annuity provisions of subsection (d) of this section are not applicable, any designated beneficiary who is eligible to receive a distribution pursuant to the provisions of subsection (c) of this section may elect to have life expectancy treatment apply to the distribution for purposes of determining whether any portion of the distribution is an eligible rollover distribution: Provided, That any such election shall not delay the required distribution of the deceased member’s entire interest in the retirement system beyond December 31 of the calendar year containing the fifth anniversary of the member’s death as required by subsection (c) of this section: Provided, however, That the election is timely made in a form acceptable to the board on or before the following:
(1) December 31 of the calendar year immediately following the calendar year in which the member died; or
(2) If the member’s sole designated beneficiary is either the surviving spouse or a former spouse who, as an alternate payee under a Qualified Domestic Relations Order, is receiving one hundred percent of the survivor benefit, election of life expectancy treatment must be made on or before the earlier of (A) or (B) below:
(A) The later of: (i) December 31 of the calendar year immediately following the calendar year in which the member died; or (ii) December 31 of the calendar year in which the member would have attained age seventy and one-half; or
(B) October 31 of the calendar year containing the fifth anniversary of the member’s death.
ARTICLE 2A. WEST VIRGINIA STATE POLICE RETIREMENT SYSTEM.
§15-2A-6b. Federal law minimum required distributions.
The requirements of this section apply to any
distribution of a member's interest and take precedence over any inconsistent
provisions of this retirement system. This section applies to plan years
beginning after December 31, 1986. Notwithstanding anything in the retirement
system to the contrary, the payment of benefits under this article shall be
determined and made in accordance with Section 401(a)(9) of the Internal
Revenue Code and the federal regulations promulgated thereunder as
applicable to governmental plans. Any term used in this article has the same
meaning as when used in a comparable context in Section 401(a)(9) of the
Internal Revenue Code and the federal regulations promulgated thereunder unless
a different meaning is clearly required by the context or definition in this
article. For this purpose, the The following provisions
apply to payments of benefits required under this article:
(a) The payment of benefits under the retirement system to any member shall be distributed to him or her not later than the required beginning date, or be distributed to him or her commencing not later than the required beginning date, in accordance with regulations prescribed under Section 401(a)(9) of the Internal Revenue Code, over the life of the member or over the lives of the member and his or her beneficiary or over a period not extending beyond the life expectancy of the member and his or her beneficiary: Provided, That the requirements of this section may not be construed to grant a right to a form of benefit which is not otherwise available to a particular member under this retirement system. Benefit payments under this section shall not be delayed pending, or contingent upon, receipt of an application for retirement from the member.
(b) If a member dies after distribution to him or her has commenced pursuant to this section but before his or her entire interest in the retirement system has been distributed, then the remaining portion of that interest shall be distributed at least as rapidly as under the method of distribution being used at the date of his or her death.
(c) If a member dies before
distribution to him or her has commenced, then his or her entire interest in
the retirement system shall is to be distributed by December 31
of the calendar year containing the fifth anniversary of the member's death, except
as follows unless the provisions of subsection (d) of this section
apply.
(1) (d) If a
member dies before distribution to him or her has commenced, and the
member's interest is payable eligible to be paid in the form of a
survivor annuity to a designated beneficiary, distributions may
are to be made over the life of that beneficiary or over a period
certain not greater than the life expectancy of that beneficiary, commencing on
or before the following:
(1) December 31 of the calendar year immediately following the calendar year in which the member died; or
(2) If the member's sole
designated beneficiary is either the surviving spouse or a former
spouse who, as an alternate payee under a Qualified Domestic Relations Order,
is receiving one hundred percent of the survivor benefit, the date
distributions are required to begin shall be no later than the later
are to commence on or before the later of:
(A) December 31 of the calendar year in which the member would have attained age seventy and one-half; or
(B) The earlier of: (i)
December 31 of the calendar year immediately following the calendar year
in which the member died; or (ii) December 31 of the calendar year following
the calendar year in which the spouse died.
(e) If a member dies before distribution to him or her has commenced and the survivor annuity provisions of subsection (d) of this section are not applicable, any designated beneficiary who is eligible to receive a distribution pursuant to the provisions of subsection (c) of this section may elect to have life expectancy treatment apply to the distribution for purposes of determining whether any portion of the distribution is an eligible rollover distribution: Provided, That any such election shall not delay the required distribution of the deceased member’s entire interest in the retirement system beyond December 31 of the calendar year containing the fifth anniversary of the member’s death as required by subsection (c) of this section: Provided, however, That the election is timely made in a form acceptable to the board on or before the following:
(1) December 31 of the calendar year immediately following the calendar year in which the member died; or
(2) If the member’s sole designated beneficiary is either the surviving spouse or a former spouse who, as an alternate payee under a Qualified Domestic Relations Order, is receiving one hundred percent of the survivor benefit, election of life expectancy treatment must be made on or before the earlier of (A) or (B) below:
(A) The later of: (i) December 31 of the calendar year immediately following the calendar year in which the member died; or (ii) December 31 of the calendar year in which the member would have attained age seventy and one-half; or
(B) October 31 of the calendar year containing the fifth anniversary of the member’s death.
CHAPTER 16. PUBLIC HEALTH.
ARTICLE 5V. EMERGENCY MEDICAL SERVICES RETIREMENT SYSTEM ACT.
§16-5V-13. Federal law minimum required distributions.
The requirements of this section apply to any
distribution of a member's or beneficiary's interest and take precedence over any
inconsistent provisions of this plan. This section applies to plan years
beginning after December 31, 1986. Notwithstanding anything in the plan to the
contrary, the payment of benefits under this article shall be determined and
made in accordance with Section 401(a)(9) of the Internal Revenue Code and its
federal regulations promulgated thereunder as applicable to
governmental plans. Any term used in this article has the same
meaning as when used in a comparable context in Section 401(a)(9) of the Internal
Revenue Code and the federal regulations promulgated thereunder unless a
different meaning is clearly required by the context or definition in this
article. For this purpose, the The following provisions
apply to payments of benefits required under this article:
(a) The payment of benefits under the plan to any member shall be distributed to him or her not later than the required beginning date, or be distributed to him or her commencing not later than the required beginning date, in accordance with regulations prescribed under Section 401(a)(9) of the Internal Revenue Code, over the life of the member or over the lives of the member and his or her beneficiary or over a period not extending beyond the life expectancy of the member and his or her beneficiary: Provided, That the requirements of this section may not be construed to grant a right to a form of benefit which is not otherwise available to a particular member under this retirement system. Benefit payments under this section shall not be delayed pending, or contingent upon, receipt of an application for retirement from the member.
(b) If a member dies after distribution to him or her has commenced pursuant to this section but before his or her entire interest in the plan has been distributed, then the remaining portion of that interest shall be distributed at least as rapidly as under the method of distribution being used at the date of his or her death.
(c) If a member dies before
distribution to him or her has commenced, then his or her entire interest in
the plan shall is to be distributed by December 31 of the
calendar year containing the fifth anniversary of the member's death, except
as follows unless the provisions of subsection (d) of this section
apply.
(1) (d) If a
member dies before distribution to him or her has commenced, and the
member's interest is payable eligible to be paid in the form of a
survivor annuity to a designated beneficiary, distributions may
are to be made over the life of that beneficiary or over a period certain
not greater than the life expectancy of the that beneficiary,
commencing on or before the following:
(1) December 31 of the calendar year immediately following the calendar year in which the member died; or
(2) If the member's sole
designated beneficiary is either the surviving spouse or a former
spouse who, as an alternate payee under a Qualified Domestic Relations Order,
is receiving one hundred percent of the survivor benefit, the date
distributions are required to begin shall be no later than the later
are to commence on or before the later of:
(A) December 31 of the calendar year in which the member would have attained age seventy and one-half; or
(B) The earlier of: (i)
December 31 of the calendar year immediately following the calendar year
in which the member died; or (ii) December 31 of the calendar year following
the calendar year in which the spouse died.
(e) If a member dies before distribution to him or her has commenced and the survivor annuity provisions of subsection (d) of this section are not applicable, any designated beneficiary who is eligible to receive a distribution pursuant to the provisions of subsection (c) of this section may elect to have life expectancy treatment apply to the distribution for purposes of determining whether any portion of the distribution is an eligible rollover distribution: Provided, That any such election shall not delay the required distribution of the deceased member’s entire interest in the retirement system beyond December 31 of the calendar year containing the fifth anniversary of the member’s death as required by subsection (c) of this section: Provided, however, That the election is timely made in a form acceptable to the board on or before the following:
(1) December 31 of the calendar year immediately following the calendar year in which the member died; or
(2) If the member’s sole designated beneficiary is either the surviving spouse or a former spouse who, as an alternate payee under a Qualified Domestic Relations Order, is receiving one hundred percent of the survivor benefit, election of life expectancy treatment must be made on or before the earlier of (A) or (B) below:
(A) The later of: (i) December 31 of the calendar year immediately following the calendar year in which the member died; or (ii) December 31 of the calendar year in which the member would have attained age seventy and one-half; or
(B) October 31 of the calendar year containing the fifth anniversary of the member’s death.
CHAPTER 18. EDUCATION.
ARTICLE 7A. STATE TEACHERS RETIREMENT SYSTEM.
§18-7A-28b. Federal law minimum required distributions.
The requirements of this section apply to any
distribution of a member's or beneficiary's interest and take precedence over
any inconsistent provisions of this retirement system. This section applies to
plan years beginning after December 31, 1986. Notwithstanding anything in the
retirement system to the contrary, the payment of benefits under this article
shall be determined and made in accordance with Section 401(a)(9) of the
Internal Revenue Code and the regulations promulgated thereunder as
applicable to governmental plans. Any term used in this article has the same
meaning as when used in a comparable context in Section 401(a)(9) of the
Internal Revenue Code and the federal regulations promulgated thereunder unless
a different meaning is clearly required by the context or definition in this
article. For this purpose, the The following provisions
apply to payments of benefits required under this article:
(a) The payment of benefits under the retirement system to any member shall be distributed to him or her not later than the required beginning date, or be distributed to him or her commencing not later than the required beginning date, in accordance with regulations prescribed under Section 401(a)(9) of the Internal Revenue Code, over the life of the member or over the lives of the member and his or her beneficiary or over a period not extending beyond the life expectancy of the member and his or her beneficiary: Provided, That the requirements of this section may not be construed to grant a right to a form of benefit which is not otherwise available to a particular member under this retirement system. Benefit payments under this section shall not be delayed pending, or contingent upon, receipt of an application for retirement from the member.
(b) If a member dies after distribution to him or her has commenced pursuant to this section but before his or her entire interest in the retirement system has been distributed, then the remaining portion of that interest shall be distributed at least as rapidly as under the method of distribution being used at the date of his or her death.
(c) If a member dies before
distribution to him or her has commenced, then his or her entire interest in
the retirement system shall is to be distributed by December 31
of the calendar year containing the fifth anniversary of the member's death, except
as follows: unless the provisions of subsection (d) of this section
apply.
(1) (d) If a
member dies before distribution to him or her has commenced, and the
member's interest is payable eligible to be paid in the form of a
survivor annuity to a designated beneficiary, distributions may
are to be made over the life of that beneficiary or over a period
certain not greater than the life expectancy of that beneficiary,
commencing on or before the following:
(1) December 31 of the calendar year immediately following the calendar year in which the member died; or
(2) If the member's sole
designated beneficiary is either the surviving spouse or a former
spouse who, as an alternate payee under a Qualified Domestic Relations Order,
is receiving one hundred percent of the survivor benefit, the date
distributions are required to begin shall not be earlier than the
later are to commence on or before the later of:
(A) December 31 of the calendar year in which the member would have attained age seventy and one-half; or
(B) The earlier of: (i)
December 31 of the calendar year immediately following the calendar year
in which the member died; or (ii) December 31 of the calendar year following
the calendar year in which the spouse died.
(e) If a member dies before distribution to him or her has commenced and the survivor annuity provisions of subsection (d) of this section are not applicable, any designated beneficiary who is eligible to receive a distribution pursuant to the provisions of subsection (c) of this section may elect to have life expectancy treatment apply to the distribution for purposes of determining whether any portion of the distribution is an eligible rollover distribution: Provided, That any such election shall not delay the required distribution of the deceased member’s entire interest in the retirement system beyond December 31 of the calendar year containing the fifth anniversary of the member’s death as required by subsection (c) of this section: Provided, however, That the election is timely made in a form acceptable to the board on or before the following:
(1) December 31 of the calendar year immediately following the calendar year in which the member died; or
(2) If the member’s sole designated beneficiary is either the surviving spouse or a former spouse who, as an alternate payee under a Qualified Domestic Relations Order, is receiving one hundred percent of the survivor benefit, election of life expectancy treatment must be made on or before the earlier of (A) or (B) below:
(A) The later of: (i) December 31 of the calendar year immediately following the calendar year in which the member died; or (ii) December 31 of the calendar year in which the member would have attained age seventy and one-half; or
(B) October 31 of the calendar year containing the fifth anniversary of the member’s death.
ARTICLE 7B. TEACHERS' DEFINED CONTRIBUTION RETIREMENT SYSTEM.
§18-7B-12a. Federal minimum required distributions.
The requirements of this section apply to any
distribution of a member's or beneficiary's interest and take precedence over
any inconsistent provisions of this defined contribution system. This section
applies to plan years beginning after December 31, 1986. Notwithstanding
anything in this system to the contrary, the payment of benefits under this
article shall be determined and made in accordance with Section 401(a)(9) of
the Internal Revenue Code and the federal regulations promulgated
thereunder as applicable to governmental plans, including without
limitation the incidental death benefit provisions of Section 401(a)(9)(G) of
the Internal Revenue Code and the regulations thereunder. Any term
used in this article has the same meaning as when used in a comparable context
in Section 401(a)(9) of the Internal Revenue Code and the federal regulations
promulgated thereunder unless a different meaning is clearly required by the context
or definition in this article. For this purpose, the The
following provisions apply to payments of benefits required under this
article:
(a) The payment of benefits under the defined contribution system to any member shall be distributed to him or her not later than the required beginning date, or be distributed to him or her commencing not later than the required beginning date, in accordance with regulations prescribed under Section 401(a)(9) of the Internal Revenue Code, over the life of the member or over the lives of the member and his or her beneficiary or over a period not extending beyond the life expectancy of the member and his or her beneficiary: Provided, That the requirements of this section may not be construed to grant a right to a form of benefit which are not otherwise available to a particular member under this retirement system. Benefit payments under this section shall not be delayed pending, or contingent upon, receipt of an application for retirement from the member.
(b) If a member dies after distribution to him or her has commenced pursuant to this section but before his or her entire interest in the system has been distributed, then the remaining portion of that interest shall be distributed at least as rapidly as under the method of distribution being used at the date of his or her death.
(c) If a member dies before
distribution to him or her has commenced, then his or her entire interest in
the retirement system shall is to be distributed by December 31
of the calendar year containing the fifth anniversary of the member's death, except
as follows unless the provisions of subsection (d) of this section
apply.
(1) (d) If a
member dies before distribution to him or her has commenced, and the
member's interest is payable eligible to be paid in the form of a
survivor annuity to a designated beneficiary, distributions may
are to be made over the life of that beneficiary or over a period
certain not greater than the life expectancy of that beneficiary, commencing on
or before the following:
(1) December 31 of the calendar year immediately following
the calendar year in which the member participant died; or
(2) If the member's sole
designated beneficiary is either the surviving spouse or a former
spouse who, as an alternate payee under a Qualified Domestic Relations Order,
is receiving one hundred percent of the survivor benefit, the date
distributions are required to begin shall be no later than the later
are to commence on or before the later of:
(A) December 31 of the
calendar year in which the member would have attained age seventy and one-half years;
or
(B) The earlier of: (i)
December 31 of the calendar year immediately following the calendar year
in which the member died; or (ii) December 31 of the calendar year following
the calendar year in which the spouse died.
(e) If a member dies before distribution to him or her has commenced and the survivor annuity provisions of subsection (d) of this section are not applicable, any designated beneficiary who is eligible to receive a distribution pursuant to the provisions of subsection (c) of this section may elect to have life expectancy treatment apply to the distribution for purposes of determining whether any portion of the distribution is an eligible rollover distribution: Provided, That any such election shall not delay the required distribution of the deceased member’s entire interest in the retirement system beyond December 31 of the calendar year containing the fifth anniversary of the member’s death as required by subsection (c) of this section: Provided, however, That the election is timely made in a form acceptable to the board on or before the following:
(1) December 31 of the calendar year immediately following the calendar year in which the member died; or
(2) If the member’s sole designated beneficiary is either the surviving spouse or a former spouse who, as an alternate payee under a Qualified Domestic Relations Order, is receiving one hundred percent of the survivor benefit, election of life expectancy treatment must be made on or before the earlier of (A) or (B) below:
(A) The later of: (i) December 31 of the calendar year immediately following the calendar year in which the member died; or (ii) December 31 of the calendar year in which the member would have attained age seventy and one-half; or
(B) October 31 of the calendar year containing the fifth anniversary of the member’s death.
(d) (f) For purposes of this section, any amount
paid to a child of a member will be treated as if it had been paid to the
surviving spouse of the member if the remaining amount becomes payable to the
surviving spouse when the child reaches the age of majority.
CHAPTER 51. COURTS AND THEIR OFFICERS.
ARTICLE 9. RETIREMENT SYSTEM FOR JUDGES OF COURTS OF RECORD.
§51-9-12b. Federal minimum required distributions.
The requirements of this section apply to any
distribution of a member's or beneficiaries' interest and take precedence over
any inconsistent provisions of this retirement system. This section applies to
plan years beginning after December 31, 1986. Notwithstanding anything in the
retirement system to the contrary, the payment of benefits under this article
shall be determined and made in accordance with Section 401(a)(9) of the
Internal Revenue Code and the federal regulations promulgated thereunder
as applicable to governmental plans. Any term used in this article
has the same meaning as when used in a comparable context in Section 401(a)(9)
of the Internal Revenue Code and the federal regulations promulgated thereunder
unless a different meaning is clearly required by the context or definition in
this article. For this purpose, the The following provisions
apply to payments of benefits required under this article:
(a) The payment of
benefits under the retirement system to any member shall be distributed to him
or her not later than the required beginning date, or be distributed to him or
her commencing not later than the required beginning date, in accordance with Treasury
Regulations regulations prescribed under Section 401(a)(9) of the
Internal Revenue Code, over the life of the member or over the lives of the
member and his or her beneficiary or over a period not extending beyond the
life expectancy of the member and his or her beneficiary: Provided,
That the requirements of this section may not be construed to grant a right to
a form of benefit which is not otherwise available to a particular member under
this retirement system. Benefit payments under this section shall not be
delayed pending, or contingent upon, receipt of an application for retirement
from the member.
(b) If a member dies after distribution to him or her has commenced pursuant to this section but before his or her entire interest in the retirement system has been distributed, then the remaining portion of that interest shall be distributed at least as rapidly as under the method of distribution being used at the date of his or her death.
(c) If a member dies before
distribution to him or her has commenced, then his or her entire interest in
the retirement system shall is to be distributed by December 31
of the calendar year containing the fifth anniversary of the member's death, except
as follows: unless the provisions of subsection (d) of this section
apply.
(1) (d) If a
member dies before distribution to him or her has commenced, and the
member's interest is payable eligible to be paid in the form of a
survivor annuity to a designated beneficiary, distributions may
are to be made over the life of that beneficiary or over a period
certain not greater than the life expectancy of the that
beneficiary, commencing on or before the following:
(1) December 31 of the calendar year immediately following the calendar year in which the member died; or
(2) If the member's sole
designated beneficiary is either the surviving spouse or a former
spouse who, as an alternate payee under a Qualified Domestic Relations Order,
is receiving one hundred percent of the survivor benefit, the date
distributions are required to begin shall be no later than the later
are to commence on or before the later of:
(A) December 31 of the calendar year in which the member would have attained age seventy and one-half; or
(B) The earlier of: (i)
December 31 of the calendar year immediately following the calendar year
in which the member died; or (ii) December 31 of the calendar year following
the calendar year in which the spouse died.
(e) If a member dies before distribution to him or her has commenced and the survivor annuity provisions of subsection (d) of this section are not applicable, any designated beneficiary who is eligible to receive a distribution pursuant to the provisions of subsection (c) of this section may elect to have life expectancy treatment apply to the distribution for purposes of determining whether any portion of the distribution is an eligible rollover distribution: Provided, That any such election shall not delay the required distribution of the deceased member’s entire interest in the retirement system beyond December 31 of the calendar year containing the fifth anniversary of the member’s death as required by subsection (c) of this section: Provided, however, That the election is timely made in a form acceptable to the board on or before the following:
(1) December 31 of the calendar year immediately following the calendar year in which the member died; or
(2) If the member’s sole designated beneficiary is either the surviving spouse or a former spouse who, as an alternate payee under a Qualified Domestic Relations Order, is receiving one hundred percent of the survivor benefit, election of life expectancy treatment must be made on or before the earlier of (A) or (B) below:
(A) The later of: (i) December 31 of the calendar year immediately following the calendar year in which the member died; or (ii) December 31 of the calendar year in which the member would have attained age seventy and one-half; or
(B) October 31 of the calendar year containing the fifth anniversary of the member’s death.