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24-7-730. Required distributions.
Arkansas Code — all titles (historical 2020) · legal_authorities
24-7-730. Required distributions.
(a)(1) Notwithstanding the provisions of this subchapter regarding the required dates of distribution of benefits under the Arkansas Teacher Retirement System to former members, the distribution of a former member's benefits under the system shall in any event be made or begun by April 1 of the calendar year following the later of the calendar year in which the member attains age seventy and one-half (70½) or the calendar year in which the member retires.
(2) Distributions shall be made over the life of the member or over the lives of the member and the member's designated beneficiary or over a period not extending beyond the life expectancy of the member or the life expectancy of the member and the member's designated beneficiary.
(b)(1) If the member dies after the distribution of benefits under the system commences, the distribution of the benefits shall be continued in accordance with the form of benefit in effect prior to the member's death.
(2)(A) If the member dies before the distribution of benefits under the system commences, the entire death benefit, if any, due as a result of the member's death shall be distributed no later than five (5) years after the member's death except to the extent that a written election is made to receive distributions in accordance with subdivisions (b)(2)(B) or (C) of this section.
(B) If any portion of the member's benefit is payable to a designated beneficiary, distributions shall be made in substantially equal installments over the life or life expectancy of the designated beneficiary commencing no later than one (1) year after the member's death.
(C) If the designated beneficiary is the member's surviving spouse, the date distributions required to begin in accordance with subdivisio
Source: Arkansas Code — historical release 78 (November 6, 2020) · 24-7-730
Stored review status: Historical 2020-11-06 source release; later amendments not reconciled; machine-extracted, not independently legally reviewed; source heading status: text_in_historical_source. A text match is a research starting point; applicability is not established.
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Stable record: arkansas_code:legal_authorities:24-7-730
Source file: gov.ar.code.title.24.odt
Pages: Not recorded – Not recorded
Passage SHA-256: 3bc0ac8e3e9a0daf665346547ee15660164c2b79db34b77253a4ca63a337d1de
Source location: content.xml paragraph 7433
Stored source content
24-7-730. Required distributions.
(a)(1) Notwithstanding the provisions of this subchapter regarding the required dates of distribution of benefits under the Arkansas Teacher Retirement System to former members, the distribution of a former member's benefits under the system shall in any event be made or begun by April 1 of the calendar year following the later of the calendar year in which the member attains age seventy and one-half (70½) or the calendar year in which the member retires.
(2) Distributions shall be made over the life of the member or over the lives of the member and the member's designated beneficiary or over a period not extending beyond the life expectancy of the member or the life expectancy of the member and the member's designated beneficiary.
(b)(1) If the member dies after the distribution of benefits under the system commences, the distribution of the benefits shall be continued in accordance with the form of benefit in effect prior to the member's death.
(2)(A) If the member dies before the distribution of benefits under the system commences, the entire death benefit, if any, due as a result of the member's death shall be distributed no later than five (5) years after the member's death except to the extent that a written election is made to receive distributions in accordance with subdivisions (b)(2)(B) or (C) of this section.
(B) If any portion of the member's benefit is payable to a designated beneficiary, distributions shall be made in substantially equal installments over the life or life expectancy of the designated beneficiary commencing no later than one (1) year after the member's death.
(C) If the designated beneficiary is the member's surviving spouse, the date distributions required to begin in accordance with subdivision (b)(2)(A) of this section shall not be earlier than the date on which the member would have attained age seventy and one-half (70½). If the spouse dies before payments begin, subsequent distributions shall be made as if the spouse had been the member.
(D) Notwithstanding the provisions of this subchapter, all distributions of benefits under the system shall comply with the requirements of the Internal Revenue Code, 26 U.S.C. 401(a)(9) and the regulations under the Internal Revenue Code, including United States Treasury Regulation, 26 C.F.R. § 1.401(a)(9)-2 and those provisions shall override any distribution options in this chapter that are inconsistent with section 401(a)(9) of the Internal Revenue Code, 26 U.S.C. 401(a)(9).
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Federal law — U.S. Code and appendices · legal_authorities
**(a) Requirements for qualification** A trust created or organized in the United States and forming part of a stock bonus, pension, or profit-sharing plan of an employer for the exclusive benefit of his employees or their beneficiaries shall constitute a qualified trust under this section—
(1) if contributions are made to the trust by such employer, or employees, or both, or by another employer who is entitled to deduct his contributions under section 404(a)(3)(B) (relating to deduction for contributions to profit-sharing and stock bonus plans), or by a charitable remainder trust pursuant to a qualified gratuitous transfer (as defined in section 664(g)(1)), for the purpose of distributing to such employees or their beneficiaries the corpus and income of the fund accumulated by the trust in accordance with such plan;
(2) if under the trust instrument it is impossible, at any time prior to the satisfaction of all liabilities with respect to employees and their beneficiaries under the trust, for any part of the corpus or income to be (within the taxable year or thereafter) used for, or diverted to, purposes other than for the exclusive benefit of his employees or their beneficiaries (but this paragraph shall not be construed, in the case of a multiemployer plan, to prohibit the return of a contribution within 6 months after the plan administrator determines that the contribution was made by a mistake of fact or law (other than a mistake relating to whether the plan is described in section 401(a) or the trust which is part of such plan is exempt from taxation under section 501(a), or the return of any withdrawal liability payment determined to be an overpayment within 6 months of such determination));
(3) if the plan of which such trust is a part satisfies the requireme
Source: Supplied U.S. Code snapshot — release unconfirmed · 26 U.S.C. § 401
Stored review status: release_metadata_unconfirmed. The source passage cites 26 U.S.C. § 401. This identifies an authority to review, not proof of applicability.
Federal law — U.S. Code and appendices · legal_authorities
Page 1178
TITLE 26—INTERNAL REVENUE CODE
§ 401
1983—Pub. L. 98–21, title III, § 321(e)(2)(D)(ii), Apr. 20,
1983, 97 Stat. 120, substituted ‘‘Employees of foreign af-
filiates covered by section 3121(l) agreements’’ for ‘‘Cer-
tain employees of foreign subsidiaries’’ in item 406.
1980—Pub. L. 96–603, § 2(d)(1), Dec. 28, 1980, 94 Stat.
3510, added item 404A.
Pub. L. 96–222, title I, § 101(a)(7)(L)(v)(VIII), Apr. 1,
1980, 94 Stat. 200, substituted ‘‘tax credit employee
stock ownership plans’’ for ‘‘ESOPS’’ in item 409A.
1978—Pub. L. 95–600, title I, § 141(f)(8), Nov. 6, 1978, 92
Stat. 2795, added item 409A.
1974—Pub. L. 93–406, title II, § 1016(b)(1), Sept. 2, 1974,
88 Stat. 932, inserted heading ‘‘Subpart A—General
Rule’’ and added analysis of subparts.
Pub. L. 93–406, title II, § 2002(h)(2), Sept. 2, 1974, 88
Stat. 970, added items 408 and 409.
1964—Pub. L. 88–272, title II, § 220(c)(1), Feb. 26, 1964, 78
Stat. 62, added items 406 and 407.
1962—Pub. L. 87–792, § 5(b), Oct. 10, 1962, 76 Stat. 827,
added item 405.
§ 401. Qualified pension, profit-sharing, and stock
bonus plans
(a) Requirements for qualification
A trust created or organized in the United
States and forming part of a stock bonus, pen-
sion, or profit-sharing plan of an employer for
the exclusive benefit of his employees or their
beneficiaries shall constitute a qualified trust
under this section—
(1) if contributions are made to the trust by
such employer, or employees, or both, or by
another employer who is entitled to deduct his
contributions under section 404(a)(3)(B) (relat-
ing to deduction for contributions to profit-
sharing and stock bonus plans), or by a chari-
table remainder trust pursuant to a qualified
gratuitous transfer (as defined in section
664(g)(1)), for the p
Source: Supplied 2024 U.S. Code historical extraction · 26 U.S.C. § 401
Stored review status: historical_2024_not_currentness_verified. The source passage cites 26 U.S.C. § 401. This identifies an authority to review, not proof of applicability.