§88F-3 Board of trustees. (a) The authority to establish the plan and implement this chapter is vested in the board of trustees which currently administers the state deferred compensation plan under chapter 88E.
(b) The board shall adopt, in accordance with chapter 91, rules necessary to implement this chapter; provided that rules necessary for the plan to be in compliance with federal laws or regulations may be adopted without regard to chapter 91. The board may engage services, as necessary, to establish, administer, or maintain the plan under its direction. An administrator may be engaged only after a solicitation of proposals from interested persons in accordance with specifications deemed appropriate by the board. [L 1996, c 212, pt of §2; am L 2000, c 253, §128]