Sums deferred under the plan, as well as property and rights purchased with the amounts and income attributable to the amounts, shall be held in trust outside the state treasury in accordance with section 457 of the Internal Revenue Code of 1986, as amended, for the exclusive benefit of participants and their beneficiaries.
Haw. Rev. Stat. § 88F-6
Deferred funds
L 1996, c 212, pt of §2; am L 1997, c 171, §2; am L 2000, c 253, §129
Official source: Hawaii State Legislature. Reproduced from public-domain Hawaii statutes; confirm against the official source for the current text. Not legal advice.