Distribution, termination, retirement, disability

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  • (a) Upon termination for any reason other than death, disability, or retirement, a participant is entitled to a lump sum distribution of the balance of the participant's account within a reasonable time following the valuation date immediately following the date of the application.

  • (b) Application for a distribution for termination of employment shall be made on a distribution request form and in the manner prescribed by the Board.

  • (c) All employers with which the participant is employed as a member of the system shall certify on a form prescribed by the board that the participant's employment has terminated.

  • (d) Upon termination, a participant may apply for a distribution for retirement, provided the retirement date is no earlier than the date on which the participant attains the early retirement age pursuant to the provisions of this chapter. The retirement benefit is a distribution of the balance of the participant's account within a reasonable time following the valuation date immediately following the date of the application.

  • (e) Application for a distribution for retirement shall be made on a distribution request form and in the manner prescribed by the board.

  • (f) All employers with which the participant is employed as a member of the system, shall certify on a form prescribed by the Board that the participant's employment has terminated because of retirement.

  • (g) Upon termination, a participant may apply for a distribution for disability. A distribution for disability shall become payable only upon a determination by the board that the participant has a disability of permanent or extended and uncertain duration. The disability benefit is a distribution of the balance of the participant's account within a reasonable time following the valuation date immediately following the date of the application.

  • (h) Application for a distribution for disability shall be made on a distribution request form and in the manner prescribed by the board.

  • (i) All employers with which the participant is employed as a member of the system shall certify on a form prescribed by the board that the participant's employment has terminated because of disability.


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