Delaware Code Title 29 Sec. 6051 – Purpose
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The purpose of this chapter is to create a vehicle through which all employees of the State may, on a voluntary basis, provide for additional retirement income security through a program of deferred compensation. The deferred compensation program provided by this chapter shall be in addition to any retirement or other benefit program provided by law for employees of the State.
Terms Used In Delaware Code Title 29 Sec. 6051
- Deferred compensation: means income earned as a public officer or employee of the State which, pursuant to a written agreement between the State and the employee, is set aside for retirement purposes. See Delaware Code Title 29 Sec. 6052
- Deferred compensation program: means such plans to allow deferred compensation pursuant to §§ 457, 403(b) and 401(a) of the Internal Revenue Code [26 U. See Delaware Code Title 29 Sec. 6052
- State: means the State of Delaware; and when applied to different parts of the United States, it includes the District of Columbia and the several territories and possessions of the United States. See Delaware Code Title 1 Sec. 302