A pension plan for part-time, temporary
and seasonal employees
Under IRS guidelines a required minimum distribution (RMD) may be applicable for participants over age 73. 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 73 and is no longer employed by a participating employer.
If you meet any of the age criteria above and still working for a participating employer under the SISC DBP, you have two options:
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.