§ 32.004 QUALIFIED GOVERNMENTAL EXCESS BENEFIT ARRANGEMENT.

   Consistent with I.R.C. § 457(e)(14), § 32.001 and I.R.C. § 457(c)(2) shall not apply to any qualified excess benefit arrangement (as defined by I.R.C. § 415(m)(3)), and benefits provided under such an arrangement shall not be taken into account in determining whether this plan is an eligible deferred compensation plan.

(Ord. NIRC 97-1, passed 1-15-1997)