MS SB2921

Allows the Mississippi Deferred Compensation Plan and Trust to offer Roth accounts pursuant to 26 USC Section 402A and other after-tax contribution vehicles permitted under the Internal Revenue Code.

Requires Roth and other after-tax contributions to be treated as includable income to the participant at the time they would have received compensation if they had not made a deferred election.

Mandates the Mississippi Deferred Compensation Plan and Trust to comply with qualified domestic relations orders establishing the right of an alternate payee to receive all or a portion of a participant's benefits.

Requires the plan administrator to establish written procedures to determine whether orders qualify as qualified domestic relations orders and to administer corresponding benefit distributions.

Effective July 1, 2024.