Cal. Code Regs. Tit. 2, § 599.146 - Compliance with Section 401(a)(31)(B) of the Internal Revenue Code

In complying with the requirements of Section 7513 of the Government Code and Section 401(a)(31)(B) of the Internal Revenue Code (and subject to Section 75613 of the Government Code), in the event of a mandatory distribution greater than $1,000 where the member does not elect to have such distribution paid directly to an eligible retirement plan specified by the member in a direct rollover or to receive a distribution directly, such distribution shall be paid in a direct rollover to an individual retirement plan designated by the board.

Notes

Cal. Code Regs. Tit. 2, § 599.146

1. New section filed 2-23-2015; operative 4-1-2015 (Register 2015, No. 9).

Note: Authority cited: Sections 20121 and 75505, Government Code. Reference: Sections 7513, 75521 and 75505, Government Code; and Section 401(a)(31)(B), Title 26, United States Code.

1. New section filed 2-23-2015; operative 4/1/2015 (Register 2015, No. 9).