(a) Effective January 1, 2006, employee contributions to the Fund shall be 3% of total annual compensation in excess of $6,000. In no event shall total compensation during any calendar year in excess of $6,000 be exempt from contributions. (b) An employee can purchase service credit or repay a withdrawal benefit using a rollover distribution from: (1) A direct rollover of an eligible rollover distribution from: a. A qualified plan described in § 401(a) [26 U.S.C. § 401(a)] of the United States Internal Revenue Code; b. An annuity contract described in § 403(b) [26 U.S.C. § 403(b)] of the United States Internal Revenue Code; or c. An eligible plan under § 457(b) [26 U.S.C. § 457(b)] of the United States Internal Revenue Code. (2) A participant contribution of an eligible rollover distribution from: a. A qualified plan described in § 401(a) [26 U.S.C. § 401(a)] of the United States Internal Revenue Code; b. An annuity contract described in § 403(b) [26 U.S.C. § 403(b)] of the United States Internal Revenue Code; or c. An eligible plan under § 457(b) [26 U.S.C. § 457(b)] of the United States Internal Revenue Code. (3) A participant rollover contribution of the portion of a distribution from an individual retirement account or annuity described in § 408 [26 U.S.C. § 408] of the United States Internal Revenue Code that is eligible to be rolled over and would otherwise be includible in gross income."
‹ Prev All Delaware sections Next ›
Lexace provides legal information, not legal advice, and no attorney–client relationship is created. Statute text is provided for general information and may not reflect the most recent amendments; verify against the official state code.