Receiving Your Benefits

Deferring Benefit Payments

There is no deadline by which you must elect to begin benefit payments from CRP following your termination of employment. You may continue the tax-deferred investment of your retirement savings account. However, federal tax laws require that you begin receiving certain minimum payments from CRP after you attain age 70½. If you are employed by the University when you attain age 70½, minimum distributions are neither required nor permitted until you retire. If you attained age 70½ and started taking minimum distributions from CRP before January 1, 1999, you may elect to continue those payments.

While this Summary Plan Description summarizes the major provisions of this plan, it does not provide you with every plan detail. The plan documents, which govern this plan, provide full details. If there are any discrepancies between this Summary Plan Description and the legal plan documents, the legal plan documents control.