Anti-Alienation Provision. No interest in the Trust, and no right to a distribution or payment under the Trust, shall be (either at law or in equity) subject to assignment or alienation of any kind, whether by the voluntary or involuntary act of any interested person under the Trust, except as expressly required by applicable law. Notwithstanding the foregoing, in the event a Plan participant becomes employed by another governmental employer that assumes all or part of the District’s obligation to provide Benefits to the Plan participants, nothing herein shall be deemed to prohibit Assets of the Trust attributable to the District’s obligations to pay Benefits on behalf of such Plan participant from being transferred to a substantially similar trust, maintained by such new employer, that is exempt from federal income tax under section 115 of the Internal Revenue Code.
