Application for a distribution from the defined contribution program shall be in accordance with the terms and conditions specified by the plan document. In no case shall a distribution be made prior to the termination of covered employment. Calculation and payment of a distribution shall be as specified by Chapter 3307:2-5 of the Administrative Code, the plan document, and the rates, factors and conditions established by the retirement board. Application shall be on a form provided by the retirement system and shall be deemed made as of the date a complete application is received by the retirement system. A distribution made from the defined contribution plan and the combined plan's account in the defined contribution fund shall be deemed irrevocably made as of the date paid by the retirement system. Distributions from the defined benefit portion of the combined plan shall be deemed irrevocably made as outlined in paragraphs (G) and (H) of rule 3307-8-01 of the Administrative Code.
R.C. 119.032 review dates: 06/18/2014
Promulgated Under: 111.15
Statutory Authority: 3307.80
Rule Amplifies: 3307.81
Prior Effective Dates: 7/1/01 (Emer.), 9/17/01, 6/18/09, 1/7/13 (Emer)