Mississippi Administrative Code
Title 27 - Personnel
Part 220 - PERS, Deferred Compensation Plan And Trust
Article XVII - MISCELLANEOUS
Section 27-220-XVII-17.1 - COMPLIANCE WITH CODE SECTION 457(b)
Universal Citation: MS Code of Rules 27-220-XVII-17.1
Current through December 10, 2024
The intention of the Employers is that the Plan shall comply with the provisions of Code Section 457(b) and the corresponding provisions of any subsequent laws. This Trust is intended to be exempt from taxation under Code Section 501(a). The provisions of the Plan shall be construed to effectuate such intention.
In the event any provision shall be determined to be illegal or invalid for any reason, the illegal or invalid provision shall not affect the remaining parts of the Plan and the Board and the Third Party Administrator may perform such alternative acts which most clearly carry out the intent and purpose of the Plan.
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