§18-7B-18. Right to Benefits Not Subject to Execution, etc.; Exception for Qualified Domestic Relations Orders
The right of any person to a benefit provided for in this article shall not be subjected to execution, attachment, garnishment, the operation of bankruptcy or insolvency laws, or other process whatsoever with the exception that the benefits or contributions under this system shall be subject to "qualified domestic relations orders" as that term is […]
§18-7B-19. Benefits Not Forfeited if System Terminates
If the retirement system is terminated or contributions are completely discontinued, the rights of all members to contributions made to the date of such termination or discontinuance, to the extent then funded, are not forfeited.
§18-7B-11a. Rollovers and Transfers to Repay Cashed-Out or Withdrawn Contributions
(a) This section applies to rollovers and transfers as specified in this section made on or after January 1, 2002. Notwithstanding any provision of this article to the contrary that would otherwise prohibit or limit rollovers and plan transfers to this system, the defined contribution system shall accept the following rollovers and plan transfers on […]
§18-7B-5. Administration of the Teachers' Defined Contribution Retirement System
The Consolidated Public Retirement Board created pursuant to article ten-d, chapter five of this code shall administer the teachers' defined contribution retirement system. The board may sue and be sued, contract and be contracted with and conduct all the business of the defined contribution system in the name of the teachers' defined contribution retirement system.
§18-7B-6. Powers and Duties of the Consolidated Board in the Administration of the Defined Contribution System
The board has all powers necessary to effectuate the purposes of this article. The board shall contract with a private pension, insurance, annuity, mutual fund or other qualified company or companies to administer the day-to-day operations of the system. In selecting such company or companies the board shall take into account as its highest duty, […]
§18-7B-7. Participation in Teachers' Defined Contribution Retirement System; Limiting Participation in Existing Teachers Retirement System
(a) Beginning July 1, 1991, and except as provided in this section, the Teachers' Defined Contribution Retirement System shall be the single retirement program for all new employees whose employment commences on or after that date and all new employees shall be required to participate. No additional new employees except as may be provided in […]
§18-7B-7a. Plan Closed to Persons Employed for the First Time After June, 2005; Former Employees
The retirement system created and established in this article shall be closed and no new members accepted in the system after June 30, 2005. Notwithstanding the provisions of sections seven and eight of this article, all persons who are regularly employed for full-time service as a member or an employee whose initial employment commences after […]
§18-7B-8. Voluntary Participation in System; Expiration of Right to Elect Membership in Defined Contribution System
(1) Any employee who is a member of the existing retirement system may, upon written election, voluntarily elect membership in the Teachers' Defined Contribution Retirement System, on a prospective basis, on or after July 1, 1991. All benefits earned by any employee making a voluntary election under the existing retirement system prior to the voluntary […]
§18-7B-8a. Qualified Military Service
Contributions, benefits and service credit with respect to qualified military service will be provided in accordance with section 414(u) of the Internal Revenue Code. For purposes of this section, "qualified military service" has the same meaning as in Section 414(u) of the Internal Revenue Code. The retirement board is authorized to determine all questions and […]
§18-7B-9. Members' Contributions; Annuity Account Established
(a) Each employee who is a member of the Defined Contribution System shall contribute four and one-half percent of his or her gross compensation by salary deduction. The salary deductions shall be made by the employer and shall be paid to the Teachers' Defined Contribution Retirement System within fifteen days of the end of the […]