§ 3.85.165. Compliance with tax laws.

Latest version.

A.

It is the intention of the municipality and the board that the system remain at all times a qualified plan as that term is defined under the Internal Revenue Code.

B.

Each participant's accrued benefit under the prior plan shall be deemed nonforfeitable (100 percent vested).

C.

This section shall apply to Plans I, II and III.

(AO No. 2000-65, § 3, 4-18-00; AO No. 2002-54, § 21, 3-19-02)

                    
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