N.J. Admin. Code § 17:7-16.1

Current through Register Vol. 57, No. 1, January 6, 2025

Section 17:7-16.1 - Claim for distribution

(a) Any distribution shall be paid only upon a claim made on the applicable form, and submission of additional information requested by the Plan Administrator, including, but not limited to:

1. Appropriate evidence that the participant has a severance from employment;

2. If the distribution is an Eligible Rollover Distribution (as defined in N.J.A.C. 17:7-9.2), the distributee's instruction as to whether the distribution (or a portion of the distribution) is to be paid directly to an eligible Retirement Plan (as defined in N.J.A.C. 17:7-9.2), and if any amount is to be paid directly to such an eligible Retirement Plan, the name and address of the trustee or plan administrator of that eligible Retirement Plan together with any other information that the Plan Administrator or DSP reasonably requests pursuant to Treasury Reg. § 1.401(a)(31)-1;

3. If the distribution is made on account of the participant's death, appropriate evidence of the participant's death;

4. Whenever required by the Plan Administrator, the date of birth of any person as relevant to the distribution;

5. If the account consists of more than one investment option, the order in which any investment options are to be charged or redeemed to pay the distribution;

6. Any other evidence or information that the Plan Administrator finds is relevant to administer a provision of the ABP Retirement Plan in the participant's, beneficiary's, or other distributee's circumstances;

7. Absent contrary evidence actually known to the Plan Administrator, an appropriate death certificate or a court order stating that the participant is found to be absent and presumed dead shall constitute appropriate evidence of the participant's death; and

8. If the distributee fails to submit proper instructions, the Plan Administrator may, to the extent provided by the investment option of the applicable DSP contract, determine which plan investment option(s) are to be charged.

N.J. Admin. Code § 17:7-16.1

Amended by 50 N.J.R. 1616(a), effective 7/16/2018