2000 Session

Budget Amendments - HB29 (Committee Approved)

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Deferred Comp. Plan (language only)

Item 546.10 #1h

Item 546.10 #1h

Central Appropriations
Central Appropriations

Page 460, line 27, after "participation. insert "Provided
however, that employees who are otherwise eligible but whose 403 (b) provider does not participate in the cash match program by establishing a 401(a) account are ineligible to receive a cash match.”
Page 460,  line 33, strike "by the Virginia Retirement System."
Page 460, line 36, strike "§51.1-116" and insert "§51.1-124.30(c.)"

(This amendment makes it clear that 403 (b) providers must provide for the cash match to be placed in a seperate 410 (a) account so the participant is not affected in their contribution limits.)