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DE SB88
Bill
Status
7/6/2009
Primary Sponsor
Robert Marshall
Click for details
AI Summary
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Amends Chapter 60A, Title 29 of the Delaware Code to add Section 6062 regarding hardship distributions from the deferred compensation program.
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Allows employees who are legally responsible for one or more college loans in default to qualify for a hardship distribution.
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Establishes that defaulted college loans constitute an "immediate and heavy financial need" under the deferred compensation program's hardship distribution provisions.
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Enables affected employees to withdraw funds from their deferred compensation accounts to address defaulted student loan obligations.
Legislative Description
An Act To Amend Titles 6 And 12 Of The Delaware Code Relating To Transfers Of Property And Fiduciary Relations.
Last Action
Signed by Governor
7/6/2009