For purposes of compliance with the Internal Revenue Code, the defined contribution plan (AS 14.25.310 - 14.25.590) will be treated as an Internal Revenue Code sec. 414(k) (26 U.S.C. 414(k)) plan in which savings are accumulated in an individual retirement account for the exclusive benefit of the member or beneficiaries and certain fixed occupational death and disability benefits are paid.

(Eff. 6/22/2006, Register 179)

Authority: AS 14.25.003, AS 14.25.320, AS 14.25.485, AS 14.25.487