As used in this chapter, unless the context requires a different meaning:
"Act" means the Government Employees Deferred Compensation Plan Act.
"Board" means the Board of Trustees of the Virginia Retirement System.
"Deferred compensation plan" means a plan by which an employee defers someportion of income until some stated time in the future; provides that thefederal and state income tax on such income will be deferred until the actualreceipt of such income; and is established pursuant to the provisions of §457 of the Internal Revenue Code of 1986, as amended.
"Employee" means, in the case of the plan described in § 51.1-602, allpersons employed by a participating employer, including appointed or electedofficials. In the case of a plan adopted by a county, municipality, authorityor other political subdivision pursuant to § 51.1-603, an employee shall bedefined by such county, municipality, authority or other politicalsubdivision.
"Participating employer" means the Commonwealth or any politicalsubdivision that has elected pursuant to § 51.1-603.1 to participate in thedeferred compensation plan established by the Board pursuant to this chapter.
(1974, c. 461, § 51-111.67:15; 1987, c. 619; 1990, c. 832; 1992, c. 276;1999, cc. 980, 984; 2002, c. 311; 2007, c. 253.)
As used in this chapter, unless the context requires a different meaning:
"Act" means the Government Employees Deferred Compensation Plan Act.
"Board" means the Board of Trustees of the Virginia Retirement System.
"Deferred compensation plan" means a plan by which an employee defers someportion of income until some stated time in the future; provides that thefederal and state income tax on such income will be deferred until the actualreceipt of such income; and is established pursuant to the provisions of §457 of the Internal Revenue Code of 1986, as amended.
"Employee" means, in the case of the plan described in § 51.1-602, allpersons employed by a participating employer, including appointed or electedofficials. In the case of a plan adopted by a county, municipality, authorityor other political subdivision pursuant to § 51.1-603, an employee shall bedefined by such county, municipality, authority or other politicalsubdivision.
"Participating employer" means the Commonwealth or any politicalsubdivision that has elected pursuant to § 51.1-603.1 to participate in thedeferred compensation plan established by the Board pursuant to this chapter.
(1974, c. 461, § 51-111.67:15; 1987, c. 619; 1990, c. 832; 1992, c. 276;1999, cc. 980, 984; 2002, c. 311; 2007, c. 253.)
As used in this chapter, unless the context requires a different meaning:
"Act" means the Government Employees Deferred Compensation Plan Act.
"Board" means the Board of Trustees of the Virginia Retirement System.
"Deferred compensation plan" means a plan by which an employee defers someportion of income until some stated time in the future; provides that thefederal and state income tax on such income will be deferred until the actualreceipt of such income; and is established pursuant to the provisions of §457 of the Internal Revenue Code of 1986, as amended.
"Employee" means, in the case of the plan described in § 51.1-602, allpersons employed by a participating employer, including appointed or electedofficials. In the case of a plan adopted by a county, municipality, authorityor other political subdivision pursuant to § 51.1-603, an employee shall bedefined by such county, municipality, authority or other politicalsubdivision.
"Participating employer" means the Commonwealth or any politicalsubdivision that has elected pursuant to § 51.1-603.1 to participate in thedeferred compensation plan established by the Board pursuant to this chapter.
(1974, c. 461, § 51-111.67:15; 1987, c. 619; 1990, c. 832; 1992, c. 276;1999, cc. 980, 984; 2002, c. 311; 2007, c. 253.)
