840 CMR 3.00: INTERNAL REVENUE CODE COMPLIANCE PROVISIONS

3.11: Internal Revenue Code Section 411(e)

Effective as of September 1, 1974, in addition to any protection provided by this ordinance and Massachusetts law:

(1) A member will be 100% vested in all Plan benefits upon attainment of the Plan's age and service requirements for the Plan's normal retirement benefit; and

(2) A member will be 100% vested in all Plan benefits, to the extent funded, if the Plan is terminated or experiences a complete discontinuance of employer contributions.


Return to PERAC Home Page | Regulations