§ 2.28.210. Distribution of vested accounts.

(a)

The vested account of a former employee shall be paid to such employee upon written request filed with the board in the form specified by the board. Payment shall be made under the form of payment elected by the former employee from the forms of payment made available by the board.

(b)

The vested account of a deceased employee or deceased former employee shall be paid to the beneficiary designated by such deceased employee or such deceased former employee upon written request of the beneficiary filed with the board. Payment shall be made under the form of payment elected by such beneficiary from the forms of payment made available by the board.

(c)

Subject to rules adopted by the board and in compliance with Section 401(a)(31) of the Internal Revenue Code, if a former employee or surviving spouse of an eligible rollover distribution elects to have such distribution paid directly to an eligible retirement plan and specified the eligible retirement plan to which such distribution is to be paid (in such form and such time as the board may prescribe), such distribution shall be made in the form of a direct trustee-to-trustee transfer.

(Ord. No. 44-812 § 22)