(a) This Subtitle shall be interpreted and applied so that any plan established hereunder shall be an eligible Deferred Compensation Plan under section 457 of the Internal Revenue Code.

(b) The board hereby adopts and incorporates by reference the provisions of sections 457, 401(a)(9) and 72(p) of the Internal Revenue Code and the corresponding sections of title 26 of the Code of Federal Regulations and Section 203 of the Investment Advisers Act of 1940, effective as of the date of the adoption of these Regulations (March 12, 2003). Copies of said material may be obtained from the U.S. Government Printing Office, Washington, DC 20402 and such material is available for public inspection and copying at the offices of the New York State Deferred Compensation Board, Empire State Plaza Concourse - North, Room 124, Albany, NY 12223.