24 CAR § 10-709 – Teacher Deferred Retirement Option Plan — Internal Revenue Code

(a) The operation of T-DROP shall comply with Section 415 and other applicable sections of the Internal Revenue Code of 1986, 26 U.S.C. § 1 et seq.
(b) Any provision concerning the operation of T-DROP that conflicts with Section 415 and other applicable sections of the Internal Revenue Code of 1986, 26 U.S.C. § 1 et seq., is invalid.

Codification Notes: “T-DROP” means Teacher Deferred Retirement Option Plan.