The retirement system is intended to meet the federal qualification requirements of Section 401(a) and related sections of the Internal Revenue Code as applicable to governmental plans. Notwithstanding any other provision of state law, the board shall administer the retirement system to fulfill this intent for the exclusive benefit of the members and their beneficiaries. Any provision of this article referencing or relating to these federal qualification requirements shall be effective as of the date required by federal law. The board may promulgate rules and amend or repeal conflicting rules in accordance with the authority granted to the board pursuant to section one, article ten-d of chapter five to assure compliance with this section.

Terms Used In West Virginia Code 18-7A-3a

  • board: means a county board of education. See West Virginia Code 18-1-1
  • Internal Revenue Code: means the Internal Revenue Code of 1986, as it has been amended. See West Virginia Code 18-7A-3
  • Retirement system: means the State Teachers Retirement System established by this article. See West Virginia Code 18-7A-3
  • State: when applied to a part of the United States and not restricted by the context, includes the District of Columbia and the several territories, and the words "United States" also include the said district and territories. See West Virginia Code 2-2-10
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