§ 5805. Mandatory pickup participant contributions
Purdon's Pennsylvania Statutes and Consolidated StatutesTitle 71 Pa.C.S.A. State GovernmentEffective: June 12, 2017
Effective: June 12, 2017
71 Pa.C.S.A. § 5805
§ 5805. Mandatory pickup participant contributions
(a) Treatment for purposes of IRC § 414(h).--The contributions to the trust required to be made under section 5804(a) (relating to participant contributions) with respect to State service rendered by an active participant shall be picked up by the Commonwealth or other employer and shall be treated as the employer's contribution for purposes of IRC § 414(h). After the effective date of this section, an employer employing a participant in the plan shall pick up the required mandatory participant contributions by a reduction in the compensation of the participant.
(b) Treatment for other purposes.--For all other purposes under this part and otherwise, mandatory pickup participant contributions shall be treated as contributions made by a participant in the same manner and to the same extent as if the contributions were made directly by the participant and not picked up.
Credits
2017, June 12, P.L. 11, No. 5, § 321, imd. effective.
71 Pa.C.S.A. § 5805, PA ST 71 Pa.C.S.A. § 5805
Current through Act 13 of the 2024 Regular Session. Some statute sections may be more current, see credits for details.
| End of Document |