§ 1-5 Qualification under Internal Revenue Code.
Current through 2026-07-17. Source: City of Balt., Md., Ord. 26-129. Published by the Baltimore City Department of Legislative Reference.
Balt., Md., Code art. 22A, § 1-5 (2026)
§ 1-5 Qualification under Internal Revenue Code.LinkCopy Citation
(a)In general.
The Retirement Savings Plan is intended to be:
(1)
a qualified profit-sharing plan under IRC § 401(a); and
(2)
a “governmental plan” under IRC § 414(d).
(b)Construction of article.
Accordingly, any provision of <cite data-path="|22A">this article</cite> that is subject to more than one construction or interpretation must be resolved in favor of the construction or interpretation that is consistent with the requirements of IRC § 401(a) and § 414(d).
History: Ord. 14-216
History: Ord. 15-329