§ 5543 — Employee contributions

Delaware § 5543

• Jurisdiction: Delaware
• Title: 29
• Part: Public Officers and Employees
• Ch. 55: State Employees’ Pension Plan
• Subch.: Financing and Administration

Text

(a) (1) Effective January 1, 1998, employee contributions to the Fund shall be 3% of total annual compensation in excess of $6,000 provided, however, that post-2011 employees will pay an employee contribution rate of 5% of total annual compensation in excess of $6,000. In no event shall total compensation during any calendar year in excess of $6,000 be exempt from contributions.

(2) The employee contribution for a correction officer or specified peace officer shall be 7% of annual compensation.

(3) The employee contribution rate for a 911 operator is 5% of annual compensation in excess of $6,000; provided, however, that a 911 operator who is also a post-2011 employee must pay an employee contribution rate of 7% of annual compensation in excess of $6,000.

(b) Any section of this chapter to the contrary notwithstanding, any individual with 15 years of credited service who commenced receiving a service pension of $250 or less before 1971 shall be paid the accumulated contributions with interest; provided, that the individual would have been entitled to such payment under § 5553 of this title as in effect on May 31, 1970.

(c) Effective July 1, 1997, employee pension contributions made pursuant to this section shall not be subject to adjustment or recovery after the expiration of 3 full calendar years from December 31 of the year in which the contributions were made unless no contributions were paid during that calendar year.

(d) An employee can purchase service credit or repay a withdrawal benefit using a rollover distribution from:

(1) A direct rollover of an eligible rollover distribution from:

a. A qualified plan described in § 401(a) [26 U.S.C. § 401(a)] of the United States Internal Revenue Code;

b. An annuity contract described in § 403(b) [26 U.S.C. § 403(b)] of the United States Internal Revenue Code; or

c. An eligible plan under § 457(b) [26 U.S.C. § 457(b)] of the United States Internal Revenue Code.

(2) A participant contribution of an eligible rollover distribution from:

a. A qualified plan described in § 401(a) [26 U.S.C. § 401(a)] of the United States Internal Revenue Code;

b. An annuity contract described in § 403(b) [26 U.S.C. § 403(b)] of the United States Internal Revenue Code; or

c. An eligible plan under § 457(b) [26 U.S.C. § 457(b)] of the United States Internal Revenue Code.

(3) A participant rollover contribution of the portion of a distribution from an individual retirement account or annuity described in § 408 [26 U.S.C. § 408] of the United States Internal Revenue Code that is eligible to be rolled over and would otherwise be includible in gross income.

Legislative History

29 Del. C. 1953, § 5543; 57 Del. Laws, c. 592, § 1 ; 58 Del. Laws, c. 527, § 1D ; 59 Del. Laws, c. 335, § 1 ; 60 Del. Laws, c. 483, § 31 ; 60 Del. Laws, c. 593, § 3 ; 61 Del. Laws, c. 454, § 13 ; 63 Del. Laws, c. 452, § 2 ; 65 Del. Laws, c. 522, § 1 ; 70 Del. Laws, c. 186, § 1 ; 70 Del. Laws, c. 524, § 6 ; 71 Del. Laws, c. 165, § 4 ; 71 Del. Laws, c. 354, § 37 ; 73 Del. Laws, c. 419, § 1 ; 78 Del. Laws, c. 14, § 14 ; 79 Del. Laws, c. 174, §§ 2, 5 ; 80 Del. Laws, c. 403, § 4 ; 81 Del. Laws, c. 445, § 4 ; 83 Del. Laws, c. 214, § 2 ; 84 Del. Laws, c. 514, § 54