Each State system is established as a qualified defined benefit plan pursuant to 26 U.S.C. §§401(a) and 414(d), or other applicable provision of the Internal Revenue Code, and applicable U.S. Treasury regulations and other guidance. The Board is authorized to adopt rules and regulations which are appropriate or necessary to maintain the qualified status of each State system. In this subtitle, the following terms have the meanings indicated. Terms Defined. “Agency” means the State Retirement Agency. “Board” means the Board of Trustees for the State Retirement and Pension System. “Internal Revenue Code” or “Code” means the Internal Revenue Code of 1986, as amended. “Limitation year” means the plan year for Code Section 415 testing purposes. “Plan year” means the fiscal year commencing July 1. “Required beginning date” means the applicable date by which the distribution of a plan benefit must commence in accordance with the Internal Revenue Code, 26 U.S.C. §401(a)(9)(C). “State system” refers to any State system identified in State Personnel and Pensions Article, §21-102, Annotated Code of Maryland, administered by the State Retirement Agency, and operated in accordance with the Internal Revenue Code, 26 U.S.C. §§401(a) and 414(d). This subtitle and other provisions of the Code of Maryland Regulations shall be interpreted to maintain the qualified status of the State systems under the Internal Revenue Code, §§401(a) and 414(d). State Personnel and Pensions Article, §§21-110 and 21-603, Annotated Code of Maryland Effective date: July 27, 2009 (36:15 Md. R. 1167) Regulation .02B amended effective January 8, 2024 (50:26 Md. R. 1132)