§ 33-123. Qualification contingency.

(a) Qualified plan. If it is determined that the retirement savings plan is not a qualified plan under the Internal Revenue Code, this Article is ineffective as of the date of the determination.

(b) Return of County contributions. Any account balance with respect to County contributions must be returned to the County as soon as administratively possible after this Division becomes ineffective.

(c) Return of participant contributions. Any account balances with respect to required participant contributions, including any amount picked up by the County, must be returned to the participant who made them as soon as administratively possible after this Division becomes ineffective.

(d) Participation.

(1) After a determination under this Section, a participant must become a member of the retirement system under Article III in which that employee would have been eligible to participate if the retirement savings plan had never existed.

(2) An employee's credited service earned while a participant in the retirement savings plan must be counted in determining benefits and vesting under a plan in which the employee becomes a member after the retirement savings plan becomes ineffective.

(3) An employee must contribute to the new plan, in a single lump-sum cash payment, the total nonvoluntary employee contributions that the employee would have been required to make under the plan for the period during which the employee was a participant in the retirement savings plan as if the employee had participated in the plan instead of the retirement savings plan.

(4) The County must make, on behalf of the employee, contributions to the new plan in the amount the County would have made on behalf of that employee for the period during which the employee was a participant in the retirement savings plan as if the employee had participated in the plan instead of the retirement savings plan, except as restricted by the Internal Revenue Code. (1994 L.M.C., ch. 13, § 2.)