Bill Text: DE SB88 | 2011-2012 | 146th General Assembly | Draft
Bill Title: An Act To Amend Title 29 Of The Delaware Code Relating To Deferred Compensation.
Spectrum: Bipartisan Bill
Status: (Engrossed - Dead) 2011-06-22 - Introduced and Assigned to House Administration Committee in House [SB88 Detail]
Download: Delaware-2011-SB88-Draft.html
SPONSOR: |
Sen. Booth & Sen. Bonini |
|
Rep. Schwartzkopf |
DELAWARE STATE SENATE 146th GENERAL ASSEMBLY |
SENATE BILL NO. 88 |
AN ACT TO AMEND TITLE 29 OF THE DELAWARE CODE RELATING TO DEFERRED COMPENSATION. |
Section 1.Amend Chapter 60A, Title 29, Delaware Code by adding thereto the following:
"§6062Hardship distribution allowed
An employee who is legally responsible for one or more college loans in default has an immediate and heavy financial need for the purpose of a hardship distribution from the deferred compensation program.".
SYNOPSIS
This Act allows a hardship distribution from the deferred compensation program to pay off a college loan or loans which are in default. |
AUTHOR:Sen. Booth