Statutes, codes, and regulations
Oklahoma Administrative Code
Title 590 - Oklahoma Public Employees Retirement SystemChapter 35 - Deferred Savings Incentive Plan
Subchapter 13 - Benefits and Distributions
Section 590:35-13-11 - Administrative distributions

Okla. Admin. Code § 590:35-13-11

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Current through Vol. 42, No. 4, November 1, 2024
Section 590:35-13-11 - Administrative distributions
(a) This rule applies only to a Limited Participant who is not a state employee and who is not eligible for additional contributions to the Plan after the transfer of Excess Contributions pursuant to Subchapter 13 of Chapter 10 of these rules.
(b) If such Limited Participant has an account balance in the Plan of less than two hundred dollars ($200), the Plan Administrator shall distribute to the Limited Participant his or her account balance in a lump-sum as soon as administratively feasible without a written application for distributions by the Limited Participant. The Plan Administrator shall not make this distribution in a calendar year to a Limited Participant who has taken a distribution from the Plan in that same calendar year if that distribution, when aggregated with the administrative distributions provided in this rule, would equal or exceed two hundred dollars ($200).

Okla. Admin. Code § 590:35-13-11

Added at 17 Ok Reg 3187, eff 7-27-00