The board shall have the authority to determine whether the alternative retirement plan shall be qualified under Section 401(a) or 403(a) of the Internal Revenue Code of 1986, as amended, and shall make that determination based upon which choice is most advantageous to the participants as a whole.
History: 1978 Comp., § 22-11-50, enacted by Laws 1991, ch. 118, § 8.
Cross references. — For Sections 401(a) and 403(a) of the Internal Revenue Code, see 26 U.S.C. §§ 401(a) and 403(a), respectively.
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