Current statute allows municipalities to offer a deferred compensation program to their employees.
As a result of allowing municipalities to participate in the program offered to state employees no cost will result to the Office of the State Comptroller or municipalities as any administrative costs associated with this program are borne by the participants. This amendment also makes a technical change to the state employees retirement statute that will result in no cost. The preceding Fiscal Impact statement is prepared for the benefit of the members of the General Assembly, solely for the purposes of information, summarization and explanation and does not represent the intent of the General Assembly or either House thereof for any purpose.