Not later than 60 days after the date of his or her separation-from-service (and not earlier than the date of the separation-from-service), the participant shall irrevocably, except as provided by § 34.036, elect, with respect to all of his or her account or to each portion of his or her account that is attributable to each investment, to defer payment of his or her deferred compensation until a fixed future time (the “distribution commencement date”) that is consistent with the provisions of the elected payout option and that is at least 75 days after the date that the election is made and that is consistent with the requirements of § 34.036.
(Ord. NIRC 97-1, passed 1-15-1997)