Amends existing law to to revise a provision regarding contributions and investment earnings under supplemental benefit plans and to provide for qualified after-tax contributions.
PERSI -- Amends existing law to to revise a provision regarding contributions and investment earnings under supplemental benefit plans and to provide for qualified after-tax contributions.
STATEMENT OF PURPOSE
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PERSI Choice plan members do not have access to a Roth option under current Idaho Code. To comply with Secure 2.0 catch-up contribution regulations, a qualified after-tax contribution investment option must be available to participate in catch-up contributions. 59-1308(9) needs to be updated to allow for this type of investment option to be in compliance with federal law.
HOW THEY VOTED
House Third Reading
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YEA (69)
NAY (0)
ABSENT / NOT VOTING (1)
Senate Third Reading
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YEA (34)
NAY (0)
ABSENT / NOT VOTING (1)
LATEST ACTION
Reported Signed by Governor on March 11, 2024 Session Law Chapter 19 Effective: 07/01/2024
BILL INFO
- Session
- 2024
- Chamber
- house
- Status date
- Mar 12, 2024
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