§ 16.61-3. ADOPTION OF INTERNAL REVENUE CODE SECTION 401 LIMITATIONS.

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Notwithstanding any other provision of the Charter or Administrative Code, any benefits payable on account of any member of the Retirement System shall be subject to the limitations set forth in Section 401(a) of the Internal Revenue Code.
The total benefits payable on account of any member of the Retirement System shall also be determined by the vested rights rule. Any reduction in benefits payable because of Section 401(a) limitations shall be made up by payments from a trust fund maintained and funded by the City and County. The administration and accounting for this fund shall be carried out by Retirement System staff.
(Added by Ord. 349-89, App. 10/10/89)

                    
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