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OH HB72
Bill
Status
3/17/2009
Primary Sponsor
Daniel Dodd
Click for details
AI Summary
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Designates the Treasurer of State as custodian of contributions into the deferred compensation program.
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Requires employers to notify new employees about the deferred compensation program and obtain written election to participate or not participate at time of initial employment.
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Establishes confidentiality protections for personal history records maintained by the Ohio Public Employees Deferred Compensation Board, including addresses, phone numbers, social security numbers, and contribution/benefit records.
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Permits disclosure of confidential records to prosecutors for criminal investigations, to courts or child support agencies pursuant to court orders, to state agencies via administrative subpoena, and for divorce proceedings under section 3105.87.
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Removes specific investment vehicle options (life insurance, annuities, variable annuities, pooled investment funds) from statute while maintaining board authority to offer reasonable investment options.
Legislative Description
To provide for confidentiality of certain records maintained by the Ohio Public Employees Deferred Compensation Board, to require the Treasurer of State to be the custodian of contributions into the deferred compensation program, to require new employees to be notified of the deferred compensation program and provided with the opportunity to elect to participate or not participate in the program, and to make other changes to the Deferred Compensation Law.
Deferred Compensation Law-changes
Last Action
To Financial Institutions, Real Estate, & Securities
3/17/2009