(1.5) An employer who has elected participation pursuant to subsection (1) of this section may also apply to cover some or all of the existing members of its money purchase plan under the defined benefit system. An application may be initiated by filing with the board a resolution adopted by the governing body of the employer in accordance with the requirements, terms, process, certifications, and schedule established by the board.
Source: L. 2003: Entire part added, p. 735, § 1, effective August 6. L. 2006: (1), (2), (3), (4), (5)(c), and (6)(a) amended and (3.5) added, p. 302, § 1, effective August 7. L. 2017: (3) and (3.5)(a) amended, (SB 17-020), ch. 23, p. 71, § 6, effective March 8. L. 2018: Entire section amended, (HB 18-1031), ch. 5, p. 32, § 1, effective August 8. L. 2020: (7) amended, (HB 20-1044), ch. 105, p. 414, § 12, effective September 14.