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.

If you are 70 ½ or older 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.