If a participant died on or before December 31, 2021, and before required distribution of the participant's benefits commenced, the participant's interest must be distributed as follows:

1. (1) If the participant has a surviving spouse, the surviving spouse must receive benefits over the life of the surviving spouse beginning as soon as administratively possible and effective the month after the participant's death; or
2. (2) If the participant has no surviving spouse, the participant's remaining interest must be distributed in a lump sum payment to the designated beneficiary within five years from the date of the participant's death.

Source: SL 2021, ch 28 , § 9; SL 2026, ch 26 , § 1.