Rhode Island General Laws 36-10.3-9. Distributions
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The plan documents shall specify the distribution options available under the plan which shall include a lump sum and rollover distribution option, and may include such installment, annuity, hardship, loan or death benefit options as determined by the state investment commission in its discretion subject to § 36-10.3-2(5).
History of Section.
P.L. 2011, ch. 408, § 9; P.L. 2011, ch. 409, § 9.
Terms Used In Rhode Island General Laws 36-10.3-9
- Annuity: A periodic (usually annual) payment of a fixed sum of money for either the life of the recipient or for a fixed number of years. A series of payments under a contract from an insurance company, a trust company, or an individual. Annuity payments are made at regular intervals over a period of more than one full year.
- commission: means the state investment commission as defined in § 35-10-1. See Rhode Island General Laws 36-10.3-1
- Plan: means the retirement plan established by this chapter. See Rhode Island General Laws 36-10.3-1