Code of Massachusetts Regulations
840 CMR - PUBLIC EMPLOYEE RETIREMENT ADMINISTRATION COMMISSION
Title 840 CMR 3.00 - Internal Revenue Code Compliance Provisions
Section 3.02 - Internal Revenue Code Section 401(a)(1), (2)
Universal Citation: 840 MA Code of Regs 840.3
Current through Register 1531, September 27, 2024
Effective as of September 1, 1974, the assets of any retirement system subject to M.G.L. c. 32 are held in trust and may not be used for or diverted to any purpose other than for the exclusive benefit of the members and their beneficiaries and for paying the retirement system's reasonable administrative expenses.
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