AB485-ASA1,2,172
40.24
(1) (f) From accumulated additional contributions made under s. 40.05
3(1) (a) 5. only, an annuity certain payable for and terminating after the number of
4months specified by the applicant, regardless of whether the applicant dies before or
5after the number of months specified, provided that the monthly amount of the
6annuity certain is at least equal to the minimum amount established under s. 40.25
7(1) (a).
Subject to the period of distribution required under s. 40.23 (4) (b) 2., the The 8number of months specified shall not exceed
180 the life expectancy of the participant
9and shall not be less than 24
months. For the purpose of determining life expectancy
10under this paragraph, the department shall use the same tables that the federal
11Internal Revenue Service uses for determining single life expectancy for pension
12plans under 26 USC 401 (a). If the death of the annuitant occurs prior to the
13expiration of the certain period, the remaining payments shall be made in
14accordance with s. 40.73 (2) without regard to any other annuity payments payable
15to the beneficiary. An annuity under this paragraph may be initiated prior to any
16other annuity amount provided under this subchapter and prior to age 55 if all other
17qualifications for receiving an annuity payment are met.
AB485-ASA1,2,2019
(1) This act first applies to annuities paid under section 40.24 (1) (f) of the
20statutes that become effective on the effective date of this subsection.