Delaware Code Title 29 Sec. 6054 – Administration; reports
Current as of: 2023 | Check for updates
|
Other versions
(a) All plans of deferred compensation which may be adopted shall provide that each participating employee will be furnished a quarterly statement of the employee’s account, on a form approved by the Board, showing at least the amount of income deferred, the investments purchased and the charges assessed on such purchases.
Terms Used In Delaware Code Title 29 Sec. 6054
- Board: shall mean the Plans Management Board pursuant to § 2722 of this title. See Delaware Code Title 29 Sec. 6052
- Deferred compensation: means income earned as a public officer or employee of the State which, pursuant to a written agreement between the State and the employee, is set aside for retirement purposes. See Delaware Code Title 29 Sec. 6052
- employee: includes employees of the Delaware Transit Corporation and Delaware Solid Waste Authority. See Delaware Code Title 29 Sec. 6052
(b) Each plan of deferred compensation which may be adopted shall provide that in the event of nonrenewal or termination, all accounts enrolled in the plan, including all records, investments and proceeds thereof, shall be transferred to an agent designated by the Board.
60 Del. Laws, c. 146, § ?1; 70 Del. Laws, c. 186, § ?1; 80 Del. Laws, c. 295, § ?3;