(a) In this subtitle the following words have the meanings indicated. (b) “Direct rollover” means a payment by the State Retirement Agency directly to the eligible retirement plan specified by the participant, the surviving spouse of a participant, or the designated beneficiary of the participant. (c) “Eligible retirement plan” means: (1) an individual retirement account described in § 408(a) […]
(a) A participant may elect on the form the Board of Trustees requires to have all or any part of an eligible rollover distribution paid to an eligible retirement plan in a direct rollover. (b) (1) If an eligible rollover distribution is payable to the designated spouse beneficiary of a member, former member, or retiree, the designated spouse […]
The Board of Trustees shall adopt regulations that are necessary to carry out this subtitle and that are consistent with the requirements of § 401(a)(31) and any other applicable sections of the Internal Revenue Code and the regulations under those sections.
Within a reasonable time before making an eligible rollover distribution, the Board of Trustees shall provide written notices as required under § 402(f) of the Internal Revenue Code.
