The board shall administer the QEBAs. The board has full discretionary authority to determine all questions arising in connection with the QEBAs, including its interpretation and any factual questions arising under the QEBAs. Further, the board has full authority to make modifications to the benefits payable under the QEBAs as may be necessary to maintain the QEBAs' qualification under Section 415(m) of the Internal Revenue Code.
HISTORY: 2008 Act No. 311, Section 28, eff June 4, 2008.
Structure South Carolina Code of Laws
Chapter 12 - Qualified Excess Benefits Arrangements
Section 9-12-20. Qualified Excess Benefit Arrangements created.
Section 9-12-30. Administration of QEBAs.
Section 9-12-40. Eligibility for participation in a QEBA.
Section 9-12-50. QEBA supplemental retirement allowance.
Section 9-12-60. Amount of contributions to the QEBA.
Section 9-12-70. Employer contributions and separate fund.
Section 9-12-80. No ability to defer.
Section 9-12-90. No assignment.
Section 9-12-100. QEBA funds unsecured.