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Senate committee advances bill to allow Roth catch-up and QDRO access for deferred compensation accounts
Summary
Senator Sundar Sparks said the Rules Committee reported Senate Bill 2863 after explaining it would allow Roth catch-up contributions and make deferred compensation accounts subject to qualified domestic relations orders, while not changing current PERS benefits.
Senator Sundar Sparks, speaking to the Senate Rules Committee, said members reported Senate Bill 2863 out of committee after explaining it deals with the state deferred compensation program and does not change PERS retirement benefits.
The bill would add language to permit Roth-style after-tax catch-up contributions for deferred compensation participants who exceed the age threshold for catch-up contributions, and would make deferred compensation accounts subject to qualified domestic relations orders (QDROs) for child support, alimony or similar court-ordered payments,…
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