Employer participation termination

The employer may terminate participation in the deferred compensation plan by first giving sixty days' written notice to the retirement board of the employer's intent to terminate. The participants in the plan must be considered to have terminated from the plan as of the date the employer terminates participation in the deferred compensation plan. Deferral of benefits must stop and benefits must be made payable as provided in sections 71-04-03-06 and 71-04-07-01.