Pennsylvania § 5709 Payment of benefits from the system

Pennsylvania Statutes

§ 5709 — Payment of benefits from the system

Pennsylvania § 5709

Title 71STATE GOVERNMENT

PartPART XXV

Ch. 57BENEFITS

This text of Pennsylvania § 5709 (Payment of benefits from the system) is published on Counsel Stack Legal Research, covering Pennsylvania primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

71 Pa. Cons. Stat. § 5709 (2026).

Text

(a)Annuities.--Any annuity granted under the provisions of this part and paid from the fund shall be paid in equal monthly installments.

(b)Death benefits.--If the amount of a death benefit payable from the fund to a beneficiary of a member under section 5707 (relating to death benefits) or under the provisions of Option 1 of section 5705(a)(1) (relating to member's options) is $10,000 or more, such beneficiary may elect to receive payment according to one of the following options:

(1)a lump sum payment;

(2)an annuity actuarially equivalent to the amount payable; or

(3)a lump sum payment and an annuity such that the annuity is actuarially equivalent to the amount payable less the lump sum payment specified by the beneficiary.

(c)Death or absence of beneficiary.--If the beneficia

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(a) Annuities.--Any annuity granted under the provisions of this part and paid from the fund shall be paid in equal monthly installments.

(b) Death benefits.--If the amount of a death benefit payable from the fund to a beneficiary of a member under section 5707 (relating to death benefits) or under the provisions of Option 1 of section 5705(a)(1) (relating to member's options) is $10,000 or more, such beneficiary may elect to receive payment according to one of the following options:

(1) a lump sum payment;

(2) an annuity actuarially equivalent to the amount payable; or

(3) a lump sum payment and an annuity such that the annuity is actuarially equivalent to the amount payable less the lump sum payment specified by the beneficiary.

(c) Death or absence of beneficiary.--If the beneficiary designated by a member should predecease him or die within 30 days of his death, or if a valid nomination of a beneficiary is not in effect at his death, any money payable to a beneficiary shall be payable to the estate of the member.

(d) Required distributions.--All payments pursuant to this section shall start and be made in compliance with the required beginning date, minimum distribution requirements and incidental death benefit rules of IRC § 401(a)(9).

Legislative History

(Apr. 23, 2002, P.L.272, No.38, eff. imd.; Dec. 28, 2015, P.L.529, No.93, eff. imd.; June 12, 2017, P.L.11, No.5, eff. imd.) 2017 Amendment.Act 5 amended the section heading and subsecs. (a) and (b). 2015 Amendment.Act 93 added subsec. (d). Cross References.Section 5709 is referred to in section 5707 of this title.