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Posted by joe 3 years ago In:

joe
joe Asked:

I will be retiring at the end of the year under ...

I will be retiring at the end of the year under Ohio PERS.  The option I want to retire under, plan c., allows the retiree to designate a beneficiary and the percentage of the retiree's amount to the beneficiary.  I want to leave 50% but Ohio PERS tells me that under IRS code   401 a 9    I must leave 72%.  I have tried reading the code but that leaves me bewildered.  Can you explain this mandated percentage and why or direct me to a source?  Thank you,  Joe Szucs

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