§ 31-31-501. Withdrawal Into Statewide Money Purchase Plan

Any employer may withdraw from its participation in the statewide defined benefit plan established by part 4 of this article for the sole purpose of electing participation in the statewide money purchase plan created pursuant to the authority granted in section 31-31-502. The employer may initiate withdrawal from the statewide defined benefit plan by filing […]

§ 31-31-502. Statewide Money Purchase Plan – Creation – Management

The board shall develop, maintain, and amend a statewide money purchase plan document that is intended to comply with the qualification requirements specified in section 401 of the internal revenue code, as applicable to governmental plans. As used in this subsection (1), “internal revenue code” shall have that meaning set forth in section 31-31-204 (3). […]