District of Columbia § 47-3602 Regulations.

District of Columbia Statutes

§ 47-3602 — Regulations.

District of Columbia·Title 47 Taxation, Licensing, Permits, Assessments, and Fees. [Enacted title]·Ch. 36 Employee Deferred Compensation Program.

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 com

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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 [(Law 22-102)] within 180 days of [June 5, 2018].

District of Columbia § 47-3602 (Regulations.) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.