D.C. Mun. Regs. tit. 6, r. 6-B2602
The District of Columbia Defined Contribution Plan ("401(a) Plan") is designed to comply with the requirements §§ 401(a) and 501(a) of the IRCand the District of Columbia Government Comprehensive Merit Personnel Act of 1978, effective March 3, 1979(D.C. Law 2-139; D.C. Official Code §§ 1-626.01et seq.) (the "Act").
There shall be established an irrevocable trust called the §401(a) Trust ("Trust"), that shall be managed so as to be exempt from income tax under § 501(a) of the IRC. The funds contributed by the District under the 401(a) Plan shall be placed in the Trust. The assets of the Trust shall be administered by the Mayor.
Contributions made to the Trust by the District are for the purpose of distributing the Trust's principal and income to employees in accordance with the 401(a) Plan.
The 401(a) Plan shall be maintained for the exclusive benefit of employees or their beneficiaries covered under the Trust. There shall be no part of the principal or income of the Trust used for any other purpose before the satisfaction of 401(a) Plan liabilities.
With the consent of the Administrator, the Trustee, or the Trustee's designee may accept rollover contributions to be held for the benefit of any participant in accordance with the 401(a) Plan Document.
D.C. Mun. Regs. tit. 6, r. 6-B2602