36-27C-1
Section 36-27C-1 Legislative intent. It is the intent of the Legislature to make available
to participants a defined contribution plan as described in Section 401 of the Internal Revenue
Code, so as to enable the participants to conveniently and economically receive the fullest
benefits offered by federal tax law as it relates to qualified defined contribution savings
plans for public employees covered by a mandatory defined benefit public employee savings
plan and participating in voluntary supplemental deferred compensation or tax sheltered annuity
plans under Internal Revenue Code Sections 457 and 403(b) respectively. (Act 2001-704, p.
1562, §1.)...
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45-37-123.192
Section 45-37-123.192 Construction of plan. The plan shall be construed and enforced according
to the Internal Revenue Code, the act, and the laws of this state, other than its laws respecting
choice of law. In the event of any discrepancy between the terms of the plan or the act and
those of applicable federal law, federal law shall apply. (Act 2013-415, p. 1586, §2:9.3.)...

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16-25A-47
Section 16-25A-47 Payroll deduction of contributions; applicability to local school boards.
Employee premium contributions shall be deducted from payroll by all employers on a pretax
basis as permitted under Section 125 of the Internal Revenue Code. All employers must offer
a flexible benefit plan to all employees by October 1, 2005. Local school boards which are
deemed by this article to be an employer retain the right to extend contracts or agreements
related to plans in existence as of October 1, 2005, or to change companies offering the same
plan benefits. (Act 2004-650, 1st Sp. Sess., p. 31, §8.)...
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16-25C-6
Section 16-25C-6 Participation. (a) Participation in this fund shall be voluntary under regulations
adopted by the board and in accordance with the Internal Revenue Code. (b) Any person who
becomes ineligible for participation in the fund due to the termination of his or her employment
with an eligible employer, or due to other reasons, may leave his or her vested accumulations
on account with the fund. In that event, no further contributions may be accepted on the account
of the person unless the person is reemployed by an eligible employer or again becomes eligible.
(Act 2001-704, p. 1562, §2.)...
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36-27C-6
Section 36-27C-6 Participation. (a) Participation in this fund shall be voluntary under regulations
adopted by the board and in accordance with the Internal Revenue Code. (b) Any person who
becomes ineligible for participation in the fund due to the termination of his or her employment
with an eligible employer, or due to other reasons, may leave his or her vested accumulations
on account with the fund. In that event, no further contributions may be accepted on the account
of the person unless the person is reemployed by an eligible employer or again becomes eligible.
(Act 2001-704, p. 1562, §1.)...
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45-37-123.131
Section 45-37-123.131 Maximum annual benefit. (a) Notwithstanding the foregoing and subject
to the exceptions and adjustments below, effective for limitation years ending after December
31, 2001, the annual benefit otherwise payable to a member under the plan at any time shall
not exceed the maximum annual benefit, and if the benefit a member would otherwise accrue
in a limitation year would produce an annual benefit in excess of the maximum annual benefit,
the benefit shall be limited, or the rate of accrual reduced, to a benefit that does not exceed
the maximum annual benefit. The maximum annual benefit payable to a member under the plan
in any limitation year shall equal the defined benefit dollar limitation. The defined benefit
dollar limitation is one hundred sixty thousand dollars ($160,000), as adjusted, effective
January 1 of each year, under § 415(d), Internal Revenue Code, in such manner as the secretary
shall prescribe, and payable in the form of a straight life annuity....
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45-37-123.190
Section 45-37-123.190 Merger, consolidation, or transfer of assets. (a) This plan may be merged
or consolidated with any other qualified plan or its assets or liabilities transferred to
any other qualified plan as determined by the Legislature or the county. (b) A member, with
the approval of the pension board, may elect to transfer, in cash, amounts from his or her
account under a § 457(b), Internal Revenue Code, plan in accordance with such rules and regulations
as the pension board may establish from time to time. Unless otherwise determined by the pension
board, any such amounts transferred from a § 457(b), Internal Revenue Code plan shall be
treated as employee contributions for purposes of the plan. (Act 2013-415, p. 1586, §2:9.1.)...

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16-25A-21
Section 16-25A-21 Flexible employees' benefits programs. Employee premium contributions shall
be deducted, by all employers, from payroll on a pretax basis as permitted under Section 125
of the Internal Revenue Code. The board is authorized to transfer the necessary funds from
the Public Education Employees' Health Insurance Plan to the fund established by the Public
Education Flexible Employees Benefit Board for the administration of the Public Education
Flexible Employees Benefits Program. All public education employees shall be offered flexible
spending accounts by employers for pretax deductions for medical and childcare expenses. (Act
2004-646, 1st Sp. Sess., p. 6, §4.)...
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19-3D-19
Section 19-3D-19 THIS SECTION WAS ASSIGNED BY THE CODE COMMISSIONER IN THE 2018 REGULAR SESSION,
EFFECTIVE JANUARY 1, 2019. THIS IS NOT IN THE CURRENT CODE SUPPLEMENT. TAX-RELATED LIMITATIONS.
(a) In this section the following terms have the following meanings: (1) GRANTOR TRUST. A
trust as to which a settlor of a first trust is considered the owner under 26 U.S.C. Sections
671 through 677, as amended, or 26 U.S.C. Section 679, as amended. (2) INTERNAL REVENUE CODE.
The United States Internal Revenue Code of 1986, as amended. (3) NONGRANTOR TRUST. A trust
that is not a grantor trust. (4) QUALIFIED BENEFITS PROPERTY. Property subject to the minimum
distribution requirements of 26 U.S.C. Section 401(a)(9), as amended, and any applicable regulations,
or to any similar requirements that refer to 26 U.S.C. Section 401(a)(9) or the regulations.
(b) An exercise of the decanting power is subject to the following limitations: (1) If a first
trust contains property that qualified, or would have...
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40-18-173
Section 40-18-173 Interpretation of article generally. Due consideration shall be given in
the interpretation of this article to applicable sections of the U.S. Internal Revenue Code
in effect from time to time, its rulings and regulations provided such Code, rulings, and
regulations are not in direct conflict with any portion of this article. (Code 1975, §40-14-103;
Acts 1984, 1st Ex. Sess., No. 84-756, p. 121, §14.)...
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