148.06 [Effective Until 9/13/2010] Additional programs for deferral of compensation.
As used in this section:
(A) “Government unit” means a county, park district of any kind, conservancy district, sanitary district, health district, public library district, or county law library.
(B) “Governing board” means, in the case of the county, the board of county commissioners; in the case of a park district, the board of park commissioners; in the case of a conservancy district, the district’s board of directors; in the case of a sanitary district, the district’s board of directors; in the case of a health district, the board of health; in the case of a public library district, the board of library trustees; and in the case of a county law library, the board of trustees of the law library association.
In addition to the program of deferred compensation that may be offered under this chapter, a governing board may offer to all of the officers and employees of the government unit not to exceed two additional programs for deferral of compensation designed for favorable tax treatment of the compensation so deferred. Any such program shall include a reasonable number of options to the officer or employee for the investment of the deferred funds, including annuities, variable annuities, regulated investment trusts, or other forms of investment approved by the governing board, that will assure the desired tax treatment of the funds.
Any income deferred under such a plan shall continue to be included as regular compensation for the purpose of computing the contributions to and benefits from the officer’s or employee’s retirement system but shall not be included in the computation of any federal and state income taxes withheld on behalf of any such employee.
Effective Date: 09-21-2000; 09-21-2006
This section is set out twice. See also § 148.06, as amended by 128th General Assembly File No. 47, SB 181, § 1, eff. 9/13/2010.
148.06 [Effective 9/13/2010] Additional programs for deferral of compensation
As used in this section:
(A) “Government unit” means a county, park district of any kind, conservancy district, sanitary district, regional water and sewer district, regional transit authority, health district, public library district, or county law library.
(B) “Governing board” means, in the case of the county, the board of county commissioners; in the case of a park district, the board of park commissioners; in the case of a conservancy district, the district’s board of directors; in the case of a sanitary district, the district’s board of directors; in the case of a regional water and sewer district, the district’s board of trustees; in the case of a regional transit authority, the authority’s board of trustees; in the case of a health district, the board of health; in the case of a public library district, the board of library trustees; and in the case of a county law library, the board of trustees of the law library association.
In addition to the program of deferred compensation that may be offered under this chapter, a governing board may offer to all of the officers and employees of the government unit not to exceed two additional programs for deferral of compensation designed for favorable tax treatment of the compensation so deferred. Any such program shall include a reasonable number of options to the officer or employee for the investment of the deferred funds, including annuities, variable annuities, regulated investment trusts, or other forms of investment approved by the governing board, that will assure the desired tax treatment of the funds.
Any income deferred under such a plan shall continue to be included as regular compensation for the purpose of computing the contributions to and benefits from the officer’s or employee’s retirement system but shall not be included in the computation of any federal and state income taxes withheld on behalf of any such employee.
Amended by 128th General Assembly File No. 47, SB 181, § 1, eff. 9/13/2010.
Effective Date: 09-21-2000; 09-21-2006
This section is set out twice. See also § 148.06, effective until 9/13/2010.
148.06 [Effective Until 9/13/2010] Additional programs for deferral of compensation.
As used in this section:
(A) “Government unit” means a county, park district of any kind, conservancy district, sanitary district, health district, public library district, or county law library.
(B) “Governing board” means, in the case of the county, the board of county commissioners; in the case of a park district, the board of park commissioners; in the case of a conservancy district, the district’s board of directors; in the case of a sanitary district, the district’s board of directors; in the case of a health district, the board of health; in the case of a public library district, the board of library trustees; and in the case of a county law library, the board of trustees of the law library association.
In addition to the program of deferred compensation that may be offered under this chapter, a governing board may offer to all of the officers and employees of the government unit not to exceed two additional programs for deferral of compensation designed for favorable tax treatment of the compensation so deferred. Any such program shall include a reasonable number of options to the officer or employee for the investment of the deferred funds, including annuities, variable annuities, regulated investment trusts, or other forms of investment approved by the governing board, that will assure the desired tax treatment of the funds.
Any income deferred under such a plan shall continue to be included as regular compensation for the purpose of computing the contributions to and benefits from the officer’s or employee’s retirement system but shall not be included in the computation of any federal and state income taxes withheld on behalf of any such employee.
Effective Date: 09-21-2000; 09-21-2006
This section is set out twice. See also § 148.06, as amended by 128th General Assembly File No. 47, SB 181, § 1, eff. 9/13/2010.
148.06 [Effective 9/13/2010] Additional programs for deferral of compensation
As used in this section:
(A) “Government unit” means a county, park district of any kind, conservancy district, sanitary district, regional water and sewer district, regional transit authority, health district, public library district, or county law library.
(B) “Governing board” means, in the case of the county, the board of county commissioners; in the case of a park district, the board of park commissioners; in the case of a conservancy district, the district’s board of directors; in the case of a sanitary district, the district’s board of directors; in the case of a regional water and sewer district, the district’s board of trustees; in the case of a regional transit authority, the authority’s board of trustees; in the case of a health district, the board of health; in the case of a public library district, the board of library trustees; and in the case of a county law library, the board of trustees of the law library association.
In addition to the program of deferred compensation that may be offered under this chapter, a governing board may offer to all of the officers and employees of the government unit not to exceed two additional programs for deferral of compensation designed for favorable tax treatment of the compensation so deferred. Any such program shall include a reasonable number of options to the officer or employee for the investment of the deferred funds, including annuities, variable annuities, regulated investment trusts, or other forms of investment approved by the governing board, that will assure the desired tax treatment of the funds.
Any income deferred under such a plan shall continue to be included as regular compensation for the purpose of computing the contributions to and benefits from the officer’s or employee’s retirement system but shall not be included in the computation of any federal and state income taxes withheld on behalf of any such employee.
Amended by 128th General Assembly File No. 47, SB 181, § 1, eff. 9/13/2010.
Effective Date: 09-21-2000; 09-21-2006
This section is set out twice. See also § 148.06, effective until 9/13/2010.
148.06 [Effective Until 9/13/2010] Additional programs for deferral of compensation.
As used in this section:
(A) “Government unit” means a county, park district of any kind, conservancy district, sanitary district, health district, public library district, or county law library.
(B) “Governing board” means, in the case of the county, the board of county commissioners; in the case of a park district, the board of park commissioners; in the case of a conservancy district, the district’s board of directors; in the case of a sanitary district, the district’s board of directors; in the case of a health district, the board of health; in the case of a public library district, the board of library trustees; and in the case of a county law library, the board of trustees of the law library association.
In addition to the program of deferred compensation that may be offered under this chapter, a governing board may offer to all of the officers and employees of the government unit not to exceed two additional programs for deferral of compensation designed for favorable tax treatment of the compensation so deferred. Any such program shall include a reasonable number of options to the officer or employee for the investment of the deferred funds, including annuities, variable annuities, regulated investment trusts, or other forms of investment approved by the governing board, that will assure the desired tax treatment of the funds.
Any income deferred under such a plan shall continue to be included as regular compensation for the purpose of computing the contributions to and benefits from the officer’s or employee’s retirement system but shall not be included in the computation of any federal and state income taxes withheld on behalf of any such employee.
Effective Date: 09-21-2000; 09-21-2006
This section is set out twice. See also § 148.06, as amended by 128th General Assembly File No. 47, SB 181, § 1, eff. 9/13/2010.
148.06 [Effective 9/13/2010] Additional programs for deferral of compensation
As used in this section:
(A) “Government unit” means a county, park district of any kind, conservancy district, sanitary district, regional water and sewer district, regional transit authority, health district, public library district, or county law library.
(B) “Governing board” means, in the case of the county, the board of county commissioners; in the case of a park district, the board of park commissioners; in the case of a conservancy district, the district’s board of directors; in the case of a sanitary district, the district’s board of directors; in the case of a regional water and sewer district, the district’s board of trustees; in the case of a regional transit authority, the authority’s board of trustees; in the case of a health district, the board of health; in the case of a public library district, the board of library trustees; and in the case of a county law library, the board of trustees of the law library association.
In addition to the program of deferred compensation that may be offered under this chapter, a governing board may offer to all of the officers and employees of the government unit not to exceed two additional programs for deferral of compensation designed for favorable tax treatment of the compensation so deferred. Any such program shall include a reasonable number of options to the officer or employee for the investment of the deferred funds, including annuities, variable annuities, regulated investment trusts, or other forms of investment approved by the governing board, that will assure the desired tax treatment of the funds.
Any income deferred under such a plan shall continue to be included as regular compensation for the purpose of computing the contributions to and benefits from the officer’s or employee’s retirement system but shall not be included in the computation of any federal and state income taxes withheld on behalf of any such employee.
Amended by 128th General Assembly File No. 47, SB 181, § 1, eff. 9/13/2010.
Effective Date: 09-21-2000; 09-21-2006
This section is set out twice. See also § 148.06, effective until 9/13/2010.
