Code of Massachusetts Regulations
610 CMR - BOARD OF HIGHER EDUCATION
Title 610 CMR 11.00 - Optional Retirement Program
Section 11.12 - Plan Requirements
Universal Citation: 610 MA Code of Regs 610.11
Current through Register 1531, September 27, 2024
(1) The benefits shall be payable only to participants in the Optional Retirement Program or their beneficiaries.
(2) The benefits shall be paid only by the selected providers in accordance with the terms of the custodial accounts, annuity contracts or certificates providing coverage to the participant.
(3) An active participant is prohibited from withdrawing contributions until the participant has fulfilled the requirements established in 610 CMR 11.12(2); provided, further, that any participant who becomes ineligible to participate in the Optional Retirement Program may withdraw their contributions.
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