19-3-2115. (Effective on occurrence of contingency or July 1, 2002, whichever is earlier) Transfers or rollovers into plan -- membership credit for purposes of vesting. (1) Except as provided in subsection (2), the board shall accept the transfer or rollover of assets from another qualified plan to the member's retirement account. If a member is transferring assets from another plan provided for in this title, the member must, for the purposes of becoming vested pursuant to 19-3-2116, receive credit for the employee's prior membership service under that plan.
     (2) (a) After-tax money may not be transferred or rolled over to a retirement account unless the money was contributed to the system's defined benefit plan on an after-tax basis.
     (b) To the extent that the transfer or rollover is disallowed under the Internal Revenue Code provisions in effect as of the calendar year immediately preceding the date of the transfer or rollover, a member may not transfer or rollover to a retirement account contributions made under sections 403(b) and 457 of the Internal Revenue Code.

     History: En. Sec. 51, Ch. 471, L. 1999.