§ 704. General requirements.

Notwithstanding any other provision of this title to the contrary, a form of retirement income payable from the plan shall satisfy the conditions given in this section.

A.

Latest Starting Date. Payment of retirement income shall commence not later than April 1 of the calendar year following the later of:

(1)

the calendar year in which the participant attains seventy and one-half (70½) years of age; or

(2)

the calendar year in which he incurs a termination of employment.

B.

Minimum Required Distributions. Effective January 1, 2003, all distributions from the Plan shall be made in accordance with the requirements of Internal Revenue Code Section 401(a)(9) as applicable to governmental plans, including the minimum incidental death benefit requirement of Internal Revenue Code Section 401(a)(9)(G).

(Ord. No. 21971; Ord. No. 21971, § 1, 12-11-2008)