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Current as of January 01, 2024 | Updated by Findlaw Staff
The Mayor shall promulgate regulations which enable employees to participate in a voluntary tax-sheltered income deferment program which meets the requirements of § 457 of the Internal Revenue Code of 1954, and the regulations and interpretations thereunder. The regulations shall include, but not be limited to:
(1) Provision for the receipt of the compensation deferred and for the use of such funds in accordance with any investment election permitted employees participating in the employee deferred compensation program;
(2) Provision for a contract agreement between the Mayor and any employee who desires to defer compensation under the employee deferred compensation program;
(3) Provision for and limitations on the types of instruments, securities, accounts or other items in which compensation deferred under the employee deferred compensation program may be invested; and
(4) Rules to implement the Deferred Compensation Program Enrollment Amendment Act of 2018 [D.C. Law 22-102] within 180 days of [June 5, 2018].
Cite this article: FindLaw.com - District of Columbia Code Division VIII. General Laws. § 47-3602. Regulations. - last updated January 01, 2024 | https://codes.findlaw.com/dc/division-viii-general-laws/dc-code-sect-47-3602/
FindLaw Codes may not reflect the most recent version of the law in your jurisdiction. Please verify the status of the code you are researching with the state legislature before relying on it for your legal needs.
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