SECTION 715:10-15-27. Code Section 401 (a) (17) limits as applied to TRS

Latest version.

Notwithstanding any other provision of the administrative code, benefit calculations from the retirement system shall not take into account compensation in excess of the amount prescribed by Section 401(a)(17) of the Internal Revenue Code. However, this limit shall not apply to any eligible participant (any member who joined the system prior to July 1, 1996).

[Source: Added at 12 Ok Reg 3666, eff 9-8-95 through 7-14-96 (emergency); Added at 13 Ok Reg 3523, eff 8-26-96]

Note

EDITOR’S NOTE: This emergency action expired before being superseded by a permanent action. Upon expiration of an emergency action enacting a new Section, the text of the Section is no longer effective. Therefore, on 7-15-96 (after the 7-14-96 expiration of the emergency action), the text of section 715:10-15-27 was no longer effective, and remained as such until added by permanent action on 8-26-96.

                    
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