Employee Voluntary Accounts Program; created, report. (HB2026)
Introduced By
Del. Danny Marshall (R-Danville) with support from co-patron Del. Bill Janis (R-Glen Allen)
Progress
✓ |
Introduced |
✗ |
Passed Committee |
☐ |
Passed House |
☐ |
Passed Senate |
☐ |
Signed by Governor |
☐ |
Became Law |
Description
Virginia Employee Voluntary Accounts Program. Creates the Virginia Employee Voluntary Accounts Program. Under the program, private employers with not more than 50 employees that have not offered a payroll savings deduction plan to employees in the preceding year may enroll to offer tax-deferred retirement plans to their employees. The Program will be administered by a board of directors, which is authorized to hire a director and staff, and to retain a financial institution to serve as third-party administrator for the management of the assets of the Program. The Program is not authorized to accept enrollees or funds until a plan of operation for the Program has been approved by the Internal Revenue Service. Read the Bill »
Outcome
History
Date | Action |
---|---|
01/13/2009 | Committee |
01/13/2009 | Prefiled and ordered printed; offered 01/14/09 090030612 |
01/13/2009 | Referred to Committee on General Laws |
01/19/2009 | Assigned GL sub: Professional/Occupational/Adminstrative Process |
01/22/2009 | Impact statement from DPB (HB2026) |
01/27/2009 | Subcommittee recommends referring to VA Small Business Commission by voice vote |
02/10/2009 | Left in General Laws |
Comments
The Virginia Interfaith Center supports this bill.