N.J. Admin. Code § 17:7-9.4

Current through Register Vol. 57, No. 1, January 6, 2025
Section 17:7-9.4 - Eligible rollover distribution payable without delay-ABP Retirement Plan only

The Plan Administrator may (but is not required to) authorize commencement of the eligible rollover distribution less than 30 days after giving an eligible rollover distribution notice only if the following requirements are met. To the extent required by IRC § 402(f) and Treasury Reg. § 1.402(c)-2, the Plan Administrator or designated service provider must inform the distributee in an eligible rollover distribution notice or otherwise that the distributee has a right to a period of at least 30 days after receiving the eligible rollover distribution notice to consider the decision of whether to elect such a distribution and any available payment option, and the distributee after receiving the eligible rollover distribution notice must affirmatively elect such a distribution.

N.J. Admin. Code § 17:7-9.4