Haw. Code R. § 14-44-26 - Failure to select distribution options
(a) In the event a
distribution request form is not filed or an election to commence payments is
not made in accordance with these rules, benefits shall be paid when the
participant attains or would have attained normal retirement age, except as
specified in subsection (b)(1).
(b)
In the event a method for payment of benefits is not designated in accordance
with this chapter, benefits shall be paid as follows:
(1) For an account valued at less than
$5,000, immediately and in a lump sum; and
(2) For an account valued at $5,000 or
greater, in five equal annual installments.
Notes
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