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DE HB148
Bill
Status
7/30/2014
Primary Sponsor
Charles Paradee
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AI Summary
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Requires the Deferred Compensation Council to add a Roth contribution option to state 403(b) and 457(b) retirement plans by July 1, 2015
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Directs the Office of Management and Budget to update the State Employee Payroll System to accommodate Roth contributions by July 1, 2015
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Requires the State Treasurer to take all necessary steps to implement the Roth option in state retirement plans by July 1, 2015
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Honors former U.S. Senator William V. Roth, Jr. of Delaware, who created the Roth IRA through the Taxpayer Relief Act of 1997
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Addition of the Roth option requires no additional state contributions to employee retirement plans
Legislative Description
An Act To Amend Title 29 Of The Delaware Code Relating To Retirement Plans.
Last Action
Signed by Governor
7/30/2014