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PDFWAC 415-501-488

How will the account be distributed if my beneficiary is my spouse?

If you die with money in your account and your beneficiary is your spouse, an account will be established in your spouse's name.
(1) The distribution options will be provided to your spouse when DCP is notified of your death. Your spouse may choose the method of distribution (installment payments or lump sum) and may be subject to a required minimum distribution each calendar year until your account is exhausted.
(a) The department must receive your spouse's election at least 30 days before distribution is to begin.
(b) Receiving more than the required minimum distribution during one calendar year does not excuse your spouse from taking the required minimum in any calendar year to which the required minimum applies.
(2) Required minimum distribution. The required minimum distribution in each of the relevant calendar years is based on life expectancies set forth in the treasury regulations.
(3) If your spouse dies before the entire account is exhausted, the remainder of the account will be paid according to their beneficiary election(s) on file (see WAC 415-501-480). If there is no beneficiary election on file, the remaining balance will be paid to their estate.
[Statutory Authority: RCW 41.50.050. WSR 22-17-049, § 415-501-488, filed 8/11/22, effective 9/11/22; WSR 20-17-006, § 415-501-488, filed 8/5/20, effective 9/5/20. Statutory Authority: RCW 41.50.050(5). WSR 14-10-045, § 415-501-488, filed 4/30/14, effective 6/1/14. Statutory Authority: RCW 41.50.050(5), 41.50.780(10), and 41.50.770. WSR 04-22-053, § 415-501-488, filed 10/29/04, effective 11/29/04.]
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