Section 47-1-80 - Distributions to conform to regulations issued under the Internal Revenue Code

Notwithstanding any other provision of this title to the contrary, distributions from any public retirement or pension system shall conform to a good-faith interpretation of Section 401(a)(9) of the federal Internal Revenue Code and the regulations promulgated pursuant to such section as applicable to a governmental plan within the meaning of Section 414(d) of the federal Internal Revenue Code and shall be implemented in accordance with the grandfathering provisions of such regulations applicable to annuity option distributions in effect on April 17, 2001.Amended by 2009 Ga. Laws 275,§ 4, eff. 5/11/2009.Added by 2005 Ga. Laws 103,§ 2, eff. 7/1/2005.