19-2-1010. Retaining qualified plan status -- board rulemaking authority. If a statutory provision affecting a retirement plan administered by the board conflicts with a qualification requirement in section 401 of the Internal Revenue Code and consequent federal regulations, the provision is either ineffective or must be interpreted to conform with the federal qualification requirements and allow the system to retain tax-deferred status. The board may adopt rules to implement this section.

     History: En. Sec. 1, Ch. 370, L. 1997.