2601

2602

2603

2604

2605

2606

2607

2608

2609

2610

2610.1 The District established the District of Columbia Deferred Compensation Plan (“457(b) Plan”), which is an eligible deferred compensation plan under § 457(b) of the IRC.

2610.2 The 457(b) Plan is a tax-advantage retirement savings account that allows eligible employees to set aside a portion of their salary through payroll deductions on a pre-tax or after-tax basis into an account that is invested at the discretion of the employee in a manner approved by the District.

SOURCE: Final Rulemaking published at 67 DCR 4743 (May 1, 2020).