If a participant dies before distribution of his or her plan
benefit has commenced, a distribution election made by the beneficiary
shall specify the form of payment as provided in § 50-8.1C
and the date on which payments shall commence. If a participant dies
at any time before his or her entire plan benefit has been distributed,
then the participant's beneficiary may make subsequent distribution
elections as provided in § 50-8.1C. Notwithstanding the
foregoing, any distribution to a beneficiary shall be made in accordance
with the provisions of Section 401(a)(9) of the Code and subject to
§ 50-8.6D and E.
A distribution to an alternate payee may be paid in a single
lump sum as soon as practicable following the qualification of the
qualified domestic relations order and the close of all appeals to
the qualified domestic relations order if the alternate payee consents
to such lump sum distribution. In the event that the alternate payee
does not consent to receive his or her distribution in a single lump
sum as soon as practicable following the qualification of the qualified
domestic relations order, the alternate payee may make an election
to receive a distribution any time after the earliest retirement date,
subject to any requirements of Section 401(a)(9) of the Code and § 50-8.1C,
by filing a distribution election specifying the form of payment as
provided in § 50-8.6 and the date on which payments shall
commence.
The Trustee shall withhold or cause to be withheld from any
amounts withdrawn or distributed all federal, state, city or other
taxes as shall be required pursuant to any law or governmental ruling
or regulation, including Treasury regulations.
If the plan receives special proceeds (as defined below) that
are allocable to an account participant who has received a final distribution
of his or her entire plan benefit, then the plan shall distribute
such special proceeds to the former participant, beneficiary, or alternate
payee (or in accordance with § 50-9.2, if the participant
is deceased and no beneficiary designation was in effect at the time
of the participant's death, or to the estate of the beneficiary or
alternate payee, as applicable, if such person is deceased) in a lump
sum as soon as practicable after the plan receives such special proceeds
unless, at the time of such mandatory distribution, the value of such
distribution would exceed $1,000. For purposes of this § 50-8.7,
"special proceeds" means amounts attributable to a settlement of any
dispute or controversy related to any of the assets previously attributable
to any account of the former participant, beneficiary, or alternate
payee or any other amounts allocable under the plan to a former participant,
beneficiary, or alternate payee relating to an adjustment to the amount
or value of any such account.