Section 86.252

Title VII CITIES, TOWNS AND VILLAGES

Chapter 86

Effective - 28 Aug 2001, 3 histories, see footnote   (history) 

  86.252.  Distribution of interest of member, when — distribution periods. — Notwithstanding any provision of sections 86.200 to 86.366, to the contrary, the entire interest of a member shall be distributed or begin to be distributed no later than the member's required beginning date. The general required beginning date of a member's benefit is April first of the calendar year following the calendar year in which the member attains age seventy and one-half years or, if later, in which the member terminates employment as a police officer and actually retires. All distributions required pursuant to this section shall be determined and made in accordance with the income tax regulations under Section 401(a)(9) of the Internal Revenue Code, including the minimum distribution incidental benefit requirement of Section 1.401(a)(9)-2 of the income tax regulations. As of the first distribution year, distributions, if not made in a single sum, may only be made over one of the following periods, or a combination thereof:

  (1) The life of the member;

  (2) The life of the member and a designated beneficiary;

  (3) A period certain not extending beyond the life expectancy of the member; or

  (4) A period certain not extending beyond the joint and last survivor expectancy of the member and a designated beneficiary.

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(L. 1995 H.B. 260, et al. § 3, A.L. 2000 H.B. 1808, A.L. 2001 S.B. 290)