§5-10-27b. Federal law minimum required distributions


Published: 2015

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WVC 5 - 10 - 27 B

§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. For this purpose, the

following provisions apply:

(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. 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 be distributed by December 31 of the calendar year containing

the fifth anniversary of the member's death, except as follows:

(1) If a member's interest is payable to a beneficiary,

distributions may 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 December 31 of the calendar

year immediately following the calendar year in which the member

died; or

(2) If the member's beneficiary is the surviving spouse, the

date distributions are required to begin shall be no later than 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

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.


Note: WV Code updated with legislation passed through the 2015 Regular Session

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