§ 33-169. County-funded Agency Participation.

(a) County Liability. Except for any obligation to refund or transfer assets under subsection (b) or (c), no legal liability for benefits must accrue to the County by including a County- funded agency in the Trust Fund.

(b) Termination of Participation by a County-funded Agency. Any Trust Fund assets must not revert to a County-funded agency. Assets may partially revert to the County if a County-funded agency terminates at least one retiree benefit plan. Only funds attributable to the terminated retiree benefit plan, after benefits and expenses have been paid, may revert to the County.

(c) Transfer of Trust Fund: If the County decides to terminate a County-funded agency’s participation in the Trust Fund, the County must notify the County-funded agency in writing. If the County-funded agency continues to maintain a retiree benefit plan, assets must be transferred to a trust which meets the requirements of Internal Revenue Code Section 115. Any transfer of assets from the Trust Fund resulting from the termination of participation in the Trust Fund must comply with the Internal Revenue Code. (, § 1.)