§5-10B-1. Legislative purpose


Published: 2015

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WEST VIRGINIA CODE











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WVC 5 - 10 B- 1

§5-10B-1. Legislative purpose.

The legislative purpose of this enactment is to enable

employees of the state, its agencies, counties, municipalities and

political subdivisions of such governmental bodies to participate

in voluntary deferred compensation plans authorized by the United

States Internal Revenue Code as interpreted by the Internal Revenue

Service, thereby permitting such employees to obtain the advantages

inherent in such plans relative to the income tax treatment of the

contributions and disbursements made pursuant to such voluntary

income deferment plans. It is further the purpose of this

enactment to authorize the establishment of separate plans for the

state and its agencies and for counties, municipalities and

political subdivisions within the state and to authorize county,

municipal and political subdivision employees to participate in the

state deferred compensation plan if their employer does not have a

plan.





Note: WV Code updated with legislation passed through the 2015 Regular Session

The WV Code Online is an unofficial copy of the annotated WV Code, provided as a convenience. It has NOT been edited for publication, and is not in any way official or authoritative.