SECTION 260:40-21-1. Provisions to prevent discrimination

Latest version.

In the event the Plan Administrator determines that prohibited discrimination described under any applicable provision of the Internal Revenue Code regarding discrimination may occur, the Plan Administrator shall be authorized to cause the election made by any participants to be modified to avoid or cure such discrimination. Upon executing the requisite application for participation, these participants shall be deemed to have expressly consented to any modification of the application and salary adjustment agreement deemed necessary by the Plan Administrator to prevent the occurrence of prohibited discrimination.

[Source: Added at 31 Ok Reg 1358, eff 9-12-14]

                    
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