§ 8408. Death benefits
Purdon's Pennsylvania Statutes and Consolidated StatutesTitle 24 Pa.C.S.A. EducationEffective: June 12, 2017
Effective: June 12, 2017
24 Pa.C.S.A. § 8408
§ 8408. Death benefits
(a) General rule.--In the event of the death of an active participant or inactive participant, the board shall pay to the participant's beneficiary the vested balance in the participant's individual investment account in a lump sum or in such other manner as the board may establish in the plan document.
(b) Death of participant receiving distributions.--In the event of the death of a participant receiving distributions, the board shall pay to the participant's beneficiary the vested balance in the participant's individual investment account in a lump sum or in such other manner as the board may establish in the plan document or, if the board has established alternative methods of distribution in the plan document under which the participant was receiving distributions, to the participant's beneficiary or successor payee as provided in the plan document.
Credits
2017, June 12, P.L. 11, No. 5, § 113, imd. effective.
24 Pa.C.S.A. § 8408, PA ST 24 Pa.C.S.A. § 8408
Current through Act 10 of the 2024 Regular Session. Some statute sections may be more current, see credits for details.
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