2005 West Virginia Code - §5-10C-5. — Savings clause.

§5-10C-5. Savings clause.
In enacting this article, it is the intent of the Legislature that the retirement plan created pursuant to this article and those created pursuant to article ten, chapter five; article fourteen-d, chapter seven; article two, chapter fifteen; article seven-a, chapter eighteen and article nine, chapter fifty-one of this code qualify under section 401 of the Internal Revenue Code of 1954, as amended, and that the member contributions picked up by the participating public employer qualify under subsection (h), section 414 of the Internal Revenue Code of 1954, as amended. Should the United States Internal Revenue Service not approve of certain sections or phraseology of certain sections of this article as being in compliance with the statutes or rules governing the Internal Revenue Service, the respective boards of trustees, in the adoption of the deferred compensation plan, shall adopt such terminology with respect to those sections as will comply therewith.