1. (a) A participant may elect on the form the Board of Trustees requires to have all or any part of an eligible rollover distribution paid to an eligible retirement plan in a direct rollover.

2. (b)

   1. (1) If an eligible rollover distribution is payable to the designated spouse beneficiary of a member, former member, or retiree, the designated spouse beneficiary may elect to have all or any part of the eligible rollover distribution paid to an eligible retirement plan in a direct rollover.

   2. (2)

      1. (i) A nonspouse designated beneficiary may roll over an eligible rollover distribution only to a traditional or Roth individual retirement account or individual retirement annuity established for the purpose of receiving the distribution.
      2. (ii) A traditional or Roth individual retirement account or individual retirement annuity established under this paragraph shall be treated as an inherited individual retirement account or annuity within the meaning of § 408(d)(3)(C) of the Internal Revenue Code.
3. (c) A member who is eligible to participate in the plan administered by the supplemental plan under Title 35, Subtitle 5 of this article may elect to have all or any part of the eligible rollover distribution paid in a direct rollover to the plan in accordance with the regulations adopted by the supplemental plan.

Added by Acts 1994, c. 6, § 2, eff. Oct. 1, 1994. Amended by Acts 2007, c. 329, § 1, eff. July 1, 2007; Acts 2009, c. 561, § 1, eff. July 1, 2009; Acts 2014, c. 304, § 1, eff. July 1, 2014.

Formerly Art. 73B, § 1-602.