§ 2-513. Distributions.  


Latest version.
  • Distributions from the plan shall comply with the requirements of Code § 401(a)(9) and the regulations thereunder. A member's interest in the trust must begin to be distributed by the later of (i) April 1 of the calendar year following the calendar year that the employee attains the age of seventy and one half (70-½), or (ii) April 1 of the calendar year the member retires. With respect to distributions under the plan made for the calendar years beginning on or after January 1, 2001, the plan will apply minimum distribution requirements of IRC § 401(a)(9) in accordance with the regulations under IRC § 401(a)(9) that were proposed in January 2001, notwithstanding any provision in the plan to the contrary. This amendment shall continue in effect until the end of the last calendar year beginning before the effective date of final regulations under § 401(a)(9) or such other date as may be specified in guidelines published by the Internal Revenue Service.

(Ord. No. 2002-8, § 3, 5-20-02)