Sec. 609.111. DISTRIBUTION

Latest version.

A plan administrator shall develop and implement procedures for:
(1) the designation by a participating employee of a beneficiary to receive the employee's deferred amounts and investment income after the employee's death; and
(2) the distribution of a participating employee's deferred amounts and investment income to the employee or the employee's beneficiary, as appropriate, because of the employee's death or termination of employment, a financial hardship, or another reason permissible under federal law.

Added by Acts 1993, 73rd Leg., ch. 268, Sec. 1, eff. Sept. 1, 1993.

                    
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