Compliance with federal requirements.

(1) The department of retirement systems shall seek appropriate guidance from the federal internal revenue service to ensure the continuous compliance of the law enforcement officers' and firefighters' system plan 1 and the restated law enforcement officers' and firefighters' retirement system.(2) In the event that the federal internal revenue service formally concludes that legislative changes are needed for the orderly restatement and termination of the law enforcement officers' and firefighters' system plan 1 by June 30, 2029, those findings and recommendations for responding to those findings shall be promptly submitted to the governor and the appropriate committees of the house of representatives and the senate.(3) In the event that any funds have been reverted to the state, and to comply with federal internal revenue service requirements they must be reverted back to the law enforcement officers' and firefighters' system plan 1, those funds must be reverted with interest, as determined by the director of the department of retirement systems.[ 2026 c 261 s 109.]