In order to yield the maximum benefit specified under this part, without regard to the § 415, Internal Revenue Code, limitations, a qualified plan under § 415(m), Internal Revenue Code, shall be established by the pension board in order to provide any additional benefit needed to, in the aggregate, yield such maximum benefit. Any § 415(m), Internal Revenue Code, plan established by the commission or pension board prior to the effective date of this part is hereby ratified, validated, and confirmed. The pension board shall be authorized to establish, modify, or replace any § 415(m), Internal Revenue Code, plan, or other plan as may hereinafter be authorized by federal law, in order to provide any additional benefit needed to, in the aggregate, yield such maximum benefit.
Structure Code of Alabama
Chapter 37 - Jefferson County.
Division 6 - Irc Section 415 Limitations.
Section 45-37-123.130 - Annual Benefit and Final Regulations Under &Sect;415, Internal Revenue Code.
Section 45-37-123.131 - Maximum Annual Benefit.
Section 45-37-123.132 - Adjustments to Annual Benefit and Limitations.
Section 45-37-123.133 - Annual Benefit Not in Excess of $10,000.
Section 45-37-123.134 - Purchase of Permissive Service Credit.
Section 45-37-123.135 - Annual Benefit Attributable to Mandatory Employee Contributions.