Title 03 Administration and Personnel
Chapter 03.05 Spokane Employees' Retirement System
Section 03.05.290 Compliance with Internal Revenue Code
This chapter shall be administered in a manner to comply with Internal Revenue Code of 1986, as amended (“Internal Revenue Code”) requirements for government qualified plans, including but not limited to Internal Revenue Code sections 401(a)(2), (a)(7), (a)(8), (a)(9), (a)(16), (a)(17), (a)(25), and (a)(31), 414(u) and 415. The board shall promulgate regulations designed to assure compliance with such requirements which will become party of the retirement system subject to change by amendment of said regulations by the board. Upon the termination of or complete discontinuance of contributions to the retirement system, the accrued retirement benefit of each member, to the extent then funded, shall be non-forfeitable.
Date Passed: Monday, July 28, 2014
Effective Date: Sunday, August 31, 2014
ORD C35128 Section 26
