Minimum distributions.
Memphis Code of Ordinances § 4-32-17
in effectSec. 4-32-17. - Minimum distributions.
If the participant's entire interest is to be distributed in other than a lump sum, then the amount to be distributed each year must be at least an amount equal to the quotient obtained by dividing the participant's entire interest by the life expectancy of the participant or the joint and last survivor expectancy of the participant and his or her designated beneficiary. Life expectancy and joint and last survivor expectant are computed by the use of the return multiples contained in section 1.72-9 of the regulations to the code. For purposes of plus computation, the life expectancy of a participant or his or her spouse may be recalculated no more frequently than annually at the section of the participant, but in the absence of such an express section by a participant an individual's life expectancy shall not be recalculated annually; however, the life expectancy of a nonspouse beneficiary may not be recalculated.
(Code 1985, § 18-56; Ord. No. 4173, § 1, 4-16-1993)
Source: City of Memphis, Code of Ordinances and Charter and Related Laws (Municode Library, library.municode.com)URL: https://library.municode.com/tn/memphis/codes/code_of_ordinances?nodeId=TIT4PERESY_CH4-32RESYLIEM_ART4PABE_S4-32-17MIDIFetched: 10/28/2026