Delaware Code Title 29 Sec. 6062 – Roth savings option
Current as of: 2023 | Check for updates
|
Other versions
(a) The Board shall ensure that 26 U.S.C. §§ 403(b) and 457(b) retirement plans allow participants the option to designate their contributions into the plans as Roth contributions.
Terms Used In Delaware Code Title 29 Sec. 6062
- Board: shall mean the Plans Management Board pursuant to § 2722 of this title. 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
- State: means the State of Delaware; and when applied to different parts of the United States, it includes the District of Columbia and the several territories and possessions of the United States. See Delaware Code Title 1 Sec. 302
(b) The Office of Management and Budget shall make all necessary changes to the state employee payroll system necessary to facilitate the addition of a Roth option to state 403(b) and 457(b) retirement plans for state employees.
(c) The State Treasurer shall take all necessary steps to facilitate the addition of a Roth option to state 403(b) and 457(b) retirement plans.