Section 14.25.430. Manner of electing distributions.

   (a) Any election or any alteration or revocation of a prior election by a participant for any purpose under this plan shall be on forms or made in a manner prescribed for that purpose by the plan administrator. To be effective, the forms required or the required action for any purpose under this plan must be completed and received in accordance with regulations adopted by the commissioner of administration.
   (b) At any time, but not less than seven days before the distribution commencement date, a member, alternate payee, or beneficiary may change
        (1) the form of payment election;
        (2) an election to commence benefits; or
        (3) the joint annuitant designation.
   (c) Changes in elections are not allowed on or after seven days before the distribution commencement date.

Authorities

14.25.440

Notes

Implemented As

2 AAC 36.022

References

AS 14.25.440 Distribution requirements.

History

(Sec. 35 ch 9 FSSLA 2005)