MS SB2641

Expands investment options for the Mississippi Government Employees' Deferred Compensation Plan to include mutual funds, collective investment trusts, common group trusts, and benefit-responsive contracts from insurance companies, banks, or financial institutions.

Allows the plan to include Roth accounts and other post-tax contribution vehicles permitted under the Internal Revenue Code, with earnings exempt from levy, garnishment, and attachment.

Treats participant Roth and post-tax contributions as includable in the participant's income at the time of deferral and permits tax-free withdrawals if qualified distribution requirements under the Internal Revenue Code are met.

Clarifies that deferred compensation and plan assets remain exempt from state, county, and municipal taxes until paid to the employee or beneficiary, and that deferred amounts are not included in tax withholding computations.

Takes effect July 1, 2018.