§5-10B-10. Deferred Compensation Plan Funds Held in Trust
(a) Notwithstanding anything herein to the contrary, as of January 1, 1998, all assets and income of all deferred compensation plans created or administered pursuant to this article shall be held in trust for the exclusive benefit of participants and their beneficiaries. (b) The West Virginia Deferred Compensation Trust Fund is created within the accounts […]
§5-10B-10a. Matching Contribution Program
(a) For a period commencing July 1, 2007, and continuing through September 30, 2012, the Treasurer is authorized to establish and operate a savings incentive program pursuant to section 401(a) of the Internal Revenue Code of 1986, as amended, in which a state employee participating in the deferred compensation plan authorized in this article may […]
§5-10B-11. Deferred Compensation Administrative Account
The Deferred Compensation Administrative Account is created in the accounts of the Treasurer for the purposes of implementing, operating and maintaining the trust and plan. The account shall receive all fees charged and collected by the Treasurer under this article.
§5-10B-12. Confidential Information Exempt From Disclosure
All information contained in the records maintained pursuant to this article that would tend to disclose the identity of a participating employee, including, without limitation, social security number, account number, address, telephone number, e-mail address, amounts invested, selected investments, returns and medical or disability information, are confidential and exempt from disclosure under the provisions of […]
§5-10B-12a. Disclosure of Information to the Treasurer for Operation of the Plan
For purposes of this article, any person or entity with information pertaining to an employee participating in the state plan shall disclose to the Treasurer any payroll related information the Treasurer determines he or she needs for the operation of the state deferred compensation plan. Disclosure of the information shall begin upon enactment of this […]
§5-10B-1. Legislative Purpose
The legislative purpose of this enactment is to enable employees of the state, its agencies, counties, municipalities and political subdivisions of such governmental bodies to participate in voluntary deferred compensation plans authorized by the United States Internal Revenue Code as interpreted by the Internal Revenue Service, thereby permitting such employees to obtain the advantages inherent […]
§5-10B-2. Definitions
Unless the context in which used clearly indicates a different meaning, as used in this article: (a) “Board” means the Consolidated Public Retirement Board provided for in 5-10-1 et seq. (b) “Deferred compensation” means the income and earnings on that income an employee may legally defer for personal income tax purposes pursuant to the Internal […]