TITLE 80: PUBLIC OFFICIALS AND EMPLOYEES
SUBTITLE D: RETIREMENT SYSTEMS
CHAPTER III: TEACHERS' RETIREMENT SYSTEM OF THE STATE OF ILLINOIS
PART 1650 THE ADMINISTRATION AND OPERATION OF THE TEACHERS' RETIREMENT SYSTEM
SECTION 1650.417 MANDATORY DISTRIBUTIONS PURSUANT TO SECTION 401(A)(9) OF THE INTERNAL REVENUE CODE
SUBTITLE D: RETIREMENT SYSTEMS
CHAPTER III: TEACHERS' RETIREMENT SYSTEM OF THE STATE OF ILLINOIS
PART 1650 THE ADMINISTRATION AND OPERATION OF THE TEACHERS' RETIREMENT SYSTEM
SECTION 1650.417 MANDATORY DISTRIBUTIONS PURSUANT TO SECTION 401(A)(9) OF THE INTERNAL REVENUE CODE
Section 1650.417 Mandatory Distributions Pursuant to Section 401(a)(9) of the Internal Revenue Code
When the System is required to make a mandatory distribution pursuant to section 401(a)(9) of the Internal Revenue Code and the member is eligible to receive either a single-sum benefit under 40 ILCS 5/16-136.4 or a refund under 40 ILCS 5/16-151, but fails to make the required election, the member shall be deemed to have elected a single-sum benefit under Section 16-136.4 of the Code.
(Source: Amended at 43 Ill. Reg. 10791, effective September 23, 2019)