§ 16-54. Latest date to begin distribution of benefits.

Notwithstanding any other provision of this plan to the contrary, a member's benefit shall be distributed as follows:

(1) A member's entire interest will be distributed, or begin to be distributed, to the member no later than the member's required beginning date, as defined in subsection (4) of this section.

(2) If the member dies before required distributions have begun, the member's entire interest will be distributed, or begin to be distributed, no later than as follows:

a. If the member's surviving spouse is the member's sole designated beneficiary, distributions to the surviving spouse must begin by December 31 of the calendar year immediately following the calendar year in which the member died, or by a date on or before December 31 of the calendar year in which the member would have attained age seventy (70).

b. If the member's sole designated beneficiary is not the member's surviving spouse, distributions to the designated beneficiary must begin by December 31 of the calendar year immediately following the calendar year in which the member died.

c. If the member does not have a designated beneficiary, the member's entire interest must be distributed within five (5) years of the date of the member's death.

(3) If the member dies after required distributions have begun, the remaining portion of the member's benefit must be distributed at least as rapidly as under the method of distributions being used at the time of the member's death.

(4) Required beginning date is the later of: April 1 of the calendar year following the calendar year in which the member attains or will have attained the age of seventy and one-half (70½) or April 1 of the calendar year following the calendar year in which the member retires.

(Ord. No. 99-02, § 2, 5-4-99; Ord. No. 2013-08, § 2, 5-21-13)