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MS SB2900
Bill
AI Summary
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Authorizes the Mississippi Deferred Compensation Plan and Trust to offer Roth accounts under 26 USC § 402A and other after-tax contribution vehicles permitted by the plan document
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Roth and after-tax contributions will be treated as taxable income to the participant at the time the contribution is made, rather than when funds are withdrawn
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Requires the plan to comply with qualified domestic relations orders (QDROs) under federal tax law, allowing alternate payees (typically former spouses) to receive all or a portion of a participant's benefits
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Permits immediate distribution to alternate payees pursuant to a qualified domestic relations order, with the plan administrator establishing written procedures for processing such orders
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Effective date: July 1, 2026
Legislative Description
MS Deferred Comp; allow Roth and other after-tax accounts, and comply with qualified domestic relations orders.
Last Action
Died In Committee
2/3/2026