Iowa Admin. Code r. 495-10.3

Current through Register Vol. 47, No. 8, October 30, 2024

Rule 495-10.3 - Interest on undistributed accumulated contributions after member's death

Interest shall continue to accrue on the undistributed accumulated contributions of a deceased member, based on the member's vested status at date of death, and the interest crediting method described in rule 10.1(97B). No interest shall be credited to any postretirement death benefit payable with respect to that member's account under Iowa Code chapter 97B. If IPERS determines that a dispute among alleged heirs exists which delays the payment of death benefits on which interest would be payable, the amount of the death benefits shall be placed in a non-interest-bearing account.