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2019 Code of Alabama
Title 36 - Public Officers and Employees.
Chapter 27C - Public Employees Defined Contribution Savings Plan.
Section 36-27C-1 - Legislative intent.
Universal Citation: AL Code § 36-27C-1 (2019)
Section 36-27C-1Legislative intent.
It is the intent of the Legislature to make available to participants a defined contribution plan as described in Section 401 of the Internal Revenue Code, so as to enable the participants to conveniently and economically receive the fullest benefits offered by federal tax law as it relates to qualified defined contribution savings plans for public employees covered by a mandatory defined benefit public employee savings plan and participating in voluntary supplemental deferred compensation or tax sheltered annuity plans under Internal Revenue Code Sections 457 and 403(b) respectively.
(Act 2001-704, p. 1562, §1.)
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