Section 57Part 3 — Defined Contributions
Distribution of plan member contribution account balance
←→ Navigate · Click subsection badges to collapse · Press ? for help
57. The aggregate amount of benefit payments under this Act made to or on behalf of any defined contribution plan member or beneficiary of a plan member shall not be less than an amount equal to the plan member contribution account balance of the plan member at the time of the first to occur of retirement or death. In the event that the total amount of benefits paid to or on behalf of a defined contribution plan member is less than the plan member contribution account balance on the date of the plan member's death, the remaining balance shall be paid in cash to the plan member's or beneficiary's estate.