Sec. 609.710. DISTRIBUTION. A plan administrator shall develop and implement procedures for:
(1) the designation by a participating employee of a beneficiary to receive the employee's deferred amounts and investment income after the employee's death; and
(2) the distribution of a participating employee's deferred amounts and investment income to the employee or the employee's beneficiary, as appropriate, because of the employee's death or termination of employment, a financial hardship, or another reason permissible under federal law.
Added by Acts 2003, 78th Leg., ch. 1266, Sec. 2.05, eff. Jan. 1, 2004.
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