(A) The employer shall credit to a participant’s account the amount transferred from another eligible deferred compensation plan (within the meaning of I.R.C. § 457(b)).
(B) Any transferred amount is not treated as contributions subject to the limitation of §§ 32.001 and 32.002, except for the amount of deferred compensation during the participant’s taxable year in which the transfer occurred which is treated as deferred compensation subject to the limitation of §§ 32.001 and 32.002.
(Ord. NIRC 97-1, passed 1-15-1997)