§ 4440.85

Ill. Admin. Code tit. 50, § 4440.85

Involuntary Lump Sum Distributions

AUTHORITY: Implementing Section 1A-103 of the Illinois Pension Code [40 ILCS 5/1A-103].DEPARTMENT OF INSURANCE

a) The distribution is made to a member who is at least normal retirement age under the plan.
b) The distribution to be made to a member does not exceed $1000 (excluding rollover contributions).
c) The distribution is made to a survivor or beneficiary of a member.

Involuntary lump sum distributions shall not be made except in the following situations: