Title 29 — State Government
117 chapters · 889 sections in this title.
29 Del. C. § 6051. Purpose.
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§ 6051. Purpose. The purpose of this chapter is to create a vehicle through which all employees of the State may, on a voluntary basis, provide for additional retirement income security through a program of deferred compensation. The deferred compensation program provided by this…
29 Del. C. § 6052. Definitions.
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§ 6052. Definitions. As used in this chapter: (1) “Board” shall mean the Plans Management Board pursuant to § 2722 of this title. (2) “Deferred compensation” means income earned as a public officer or employee of the State which, pursuant to a written agreement between the State …
29 Del. C. § 6053. Deferred Compensation Council [Repealed].
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§ 6053. Deferred Compensation Council [Repealed].60 Del. Laws, c. 146, § 1; 69 Del. Laws, c. 64, § 84; 75 Del. Laws, c. 88, § 20(6); 75 Del. Laws, c. 350, § 163; repealed by 80 Del. Laws, c. 295, § 3, eff. July. 1, 2016.;
29 Del. C. § 6054. Administration; reports.
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§ 6054. Administration; reports. (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 de…
29 Del. C. § 6055. Payroll deductions.
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§ 6055. Payroll deductions. The Department of Finance and the State Treasurer are authorized to make payroll deductions under this chapter pursuant to regulations adopted by the Board for any public officer or employee of the State who has authorized such deductions in writing. T…
29 Del. C. § 6056. Maximum amount deferrable.
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§ 6056. Maximum amount deferrable. Any provision of this chapter notwithstanding, the maximum amount of income which any 1 employee may elect to defer after June 30, 1975, shall not exceed the limit established by the Internal Revenue Service.60 Del. Laws, c. 146, § 1; 70 Del. La…
29 Del. C. § 6057. Limitation on investments.
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§ 6057. Limitation on investments. The deferred compensation program may offer any of the following investment options and none other: (1) Savings accounts in federally insured banking institutions. (2) United States government bonds or debt instruments. (3) Life insurance and an…
29 Del. C. § 6058. Audit [Repealed].
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§ 6058. Audit [Repealed].60 Del. Laws, c. 146, § 1; repealed by 80 Del. Laws, c. 295, § 3, eff. July 1, 2016.;
29 Del. C. § 6059. Costs [Repealed].
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§ 6059. Costs [Repealed].60 Del. Laws, c. 146, § 1; 74 Del. Laws, c. 68, § 81; repealed by 80 Del. Laws, c. 295, § 3, eff. July 1, 2016.;
29 Del. C. § 6060. Employer Match Plan.
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§ 6060. Employer Match Plan. The Board is hereby authorized and directed to establish a plan pursuant to § 401(a) of the Internal Revenue Code of 1986 (26 U.S.C. § 401(a)), as amended.72 Del. Laws, c. 488, § 2; 80 Del. Laws, c. 295, § 3;
29 Del. C. § 6061. Employer contribution to qualified participants [Suspended effective July 1, 2008; see 85 Del. Laws, c. 62, § 7(e)].
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§ 6061. Employer contribution to qualified participants [Suspended effective July 1, 2008; see 85 Del. Laws, c. 62, § 7(e)]. Commencing January 1, 2001, and each pay period thereafter, an amount equal to 100 percent of the voluntary contribution of every qualified participant, no…
29 Del. C. § 6062. Roth savings option.
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§ 6062. Roth savings option. (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. (b) The Office of Management and Budget shall make all necessary chang…