Added by Stats. 1999, Ch. 307, Sec. 4. Effective January 1, 2000.
(a)Any participant who is entitled to a distribution may elect to receive the distribution in either of the following forms:
(1)A single lump sum payment.
(2)Substantially level installment payments for a period of years that extends no longer than the life expectancy of the participant.
(b)Any beneficiary who is entitled to a distribution may elect to receive the distribution in either of the following forms:
(1)A single lump sum payment.
(2)Substantially level installment payments for a period of years that extends no longer than the life expectancy of the beneficiary.
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Other sections in Chapter 11 - Eligibility for Distribution