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WAC 415-02-756

How does the department comply with Internal Revenue Code exclusive benefit rules?

No assets of the retirement system may be used for or diverted to a purpose other than the exclusive benefit of the members and their beneficiaries at any time prior to the satisfaction of all liabilities with respect to members and their beneficiaries.
[Statutory Authority: RCW 41.50.050(5). WSR 10-24-099, ยง 415-02-756, filed 12/1/10, effective 1/1/11.]
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