Under IRS guidelines a required minimum distribution (RMD) may be applicable for participants over age 70 ½. Based on the IRS rules, the SISC Defined Benefit Plan requires a benefit distribution from the Plan by March 31, when a participant attains age 70 ½ and is no longer employed by a participating employer. However, if you were born between July 1, 1949 and December 31, 1950 this applies if you are age 72 or older, and if you were born on or after January 1, 1951 this applies if you are age 73 or older.

If you meet any of the age criteria above and still working for a participating employer under the SISC DBP, you have two options:

1. You may claim your benefit payment to be issued in March (and still continue to work). If you would like this option, please complete the Request for Benefit form and return it to the SISC office by January 10th.
2. You may elect to defer your benefit payment. The option to defer benefit distribution is only available if you are still working. If you wish to defer payment, please complete the Election to Defer Benefit Payment form and return it to the SISC office by January 10th. You will be sent a letter each year offering you the option to claim your benefit, or defer payment if you are still working.

Please Note: The SISC DBP does not have a death benefit provision, therefore if you elect to defer your benefit payment but then pass away, no benefits will be payable.