19-20-414. Rollover or transfer of public employee accumulated contributions. (1) A member who is eligible to qualify service under this chapter may at any time before retirement apply to roll over or transfer the member's accumulated contributions on deposit with any other eligible retirement plan. The total amount transferred to the retirement system may not exceed the amount due to purchase service.
     (2) If, in the case of a transfer, the transferred account includes both tax-deferred and taxed amounts, the transferring agency shall identify the member's tax-deferred and taxed amounts at the time the transfer is made.
     (3) To the extent permitted by section 401(a)(31) of the Internal Revenue Code and as limited by subsection (1), the board shall accept a direct rollover of eligible distributions from another eligible retirement plan.

     History: En. Sec. 10, Ch. 111, L. 1995; amd. Sec. 8, Ch. 111, L. 1999.