(a) Benefits under the plan shall be paid or made available to the participant no earlier than:

(1) separation from service when employee is no longer employed by an employer under the plan due to termination, retirement, or death; or

(2) the occurrence of an unforeseeable emergency as provided in 4.1443 to 4.1446.

(b) Payment of benefits shall commence no later than 60 days after the close of the calendar year in which the participant separates from service or the participant attains or would have attained normal retirement age as defined in 4.1436, whichever is later.

History: Rule 11-87, eff 17 Jun 87.