WVC 18 - 7 B- 12 A
§18-7B-12a. Federal minimum required distributions.
The requirements of this section apply to any distribution of
a member's or beneficiary's interest and take precedence over any
inconsistent provisions of this defined contribution system. This
section applies to plan years beginning after December 31, 1986.
Notwithstanding anything in this system to the contrary, the
payment of benefits under this article shall be determined and made
in accordance with Section 401(a)(9) of the Internal Revenue Code
and the regulations thereunder, including without limitation the
incidental death benefit provisions of Section 401(a)(9)(G) of the
Internal Revenue Code and the regulations thereunder. For this
purpose, the following provisions apply:
(a) The payment of benefits under the defined contribution
system to any member shall be distributed to him or her not later
than the required beginning date, or be distributed to him or her
commencing not later than the required beginning date, in
accordance with regulations prescribed under Section 401(a)(9) of
the Internal Revenue Code, over the life of the member or over the
lives of the member and his or her beneficiary or over a period not
extending beyond the life expectancy of the member and his or her
beneficiary. Benefit payments under this section shall not be
delayed pending, or contingent upon, receipt of an application for
retirement from the member.
(b) If a member dies after distribution to him or her has
commenced pursuant to this section but before his or her entire interest in the system has been distributed, then the remaining
portion of that interest shall be distributed at least as rapidly
as under the method of distribution being used at the date of his
or her death.
(c) If a member dies before distribution to him or her has
commenced, then his or her entire interest in the system shall be
distributed by December 31 of the calendar year containing the
fifth anniversary of the member's death, except as follows:
(1) If a member's interest is payable to a beneficiary,
distributions may be made over the life of that beneficiary or over
a period certain not greater than the life expectancy of the
beneficiary commencing on or before December 31 of the calendar
year immediately following the calendar year in which the
participant died; or
(2) If the member's beneficiary is the surviving spouse, the
date distributions are required to begin shall be no later than the
(A) December 31 of the calendar year in which the member would
have attained age seventy and one-half years; or
(B) The earlier of: (i) December 31 of the calendar year in
which the member died; or (ii) December 31 of the calendar year
following the calendar year in which the spouse died.
(d) For purposes of this section, any amount paid to a child
of a member will be treated as if it had been paid to the surviving
spouse of the member if the remaining amount becomes payable to the surviving spouse when the child reaches the age of majority.