Ill. Admin. Code tit. 80 § 1650.550

Current through Register Vol. 48, No. 25, June 21, 2024

Section 1650.550 - Presumption of Death

a) Whenever any member, annuitant, or beneficiary has been so out of communication with the System that the fact of his or her being alive cannot be ascertained, he or she shall be presumed to be dead. In the event this presumption of death shall be removed by proof that he or she is alive, benefits shall be paid or resumed from the date of the last payment.

b) Whenever any inactive member reaches age 75 and has not been in communication with the System for longer than 20 years, he or she shall be presumed dead and the member's account shall be terminated with no interest credited. In the event this presumption shall be removed by proof the member is alive or deceased, his or her account shall be reinstituted with interest and included in the System's next required minimum distribution process in accordance with Section 1650.417, Section 1-116.1 of the Code, and Internal Revenue Code Section 401(a)(9).

Ill. Admin. Code tit. 80, § 1650.550

Amended at 32 Ill. Reg. 13534, effective August 6, 2008

Amended at 44 Ill. Reg. 7905, effective 4/24/2020