(a) Subject to the restrictions in the federal authorizing law for rollover distributions, a designated beneficiary or the designated beneficiary’s representative may make a distribution of the money in a program account to another
Terms Used In Alaska Statutes 06.65.200
Beneficiary: A person who is entitled to receive the benefits or proceeds of a will, trust, insurance policy, retirement plan, annuity, or other contract. Source: OCC
(1) program account if the designated beneficiary of the program account to which the distribution is being made is
(A) the same eligible individual; or(B) an eligible individual who is a member of the family of the designated beneficiary from whom the distribution is made; or(2) account allowed by the federal authorizing law.(b) To qualify as a distribution allowed under (a) of this section, the designated beneficiary or the designated beneficiary’s representative shall make the distribution to the other program account before the 60th day after the designated beneficiary or the designated beneficiary’s representative makes the distribution from the program account.
