Last Update: 11/28/16

Chapter 415-501 WAC

DEFERRED COMPENSATION PLAN

WAC Sections

DEFERRED COMPENSATION PLAN ESTABLISHED
What is the purpose of this chapter, and does it apply to me?
DEFINITIONS
Definitions.
ADMINISTRATION
What laws govern the administration of the plan?
What are my employer's responsibilities?
What are the tax consequences of participating in the plan?
Does the department maintain a record of my account?
Where is my deferred compensation deposited?
DEPARTMENT POWERS
How are the rights of participants and beneficiaries determined?
How are questions about distributions resolved?
Can the department delegate its authority?
AUTOMATIC ENROLLMENT
What is automatic enrollment?
PARTICIPATION IN THE PLAN
How do I enroll in the plan?
May I move funds into the plan from an eligible retirement plan?
May I move funds from the plan into another eligible retirement plan?
How do I purchase service credit in a qualified defined benefit retirement plan?
What are the deferral limits?
Are there exceptions to the annual deferral limits?
May I make deferrals that were missed during periods of uniformed service?
How are deferral limits monitored?
May I change my deferral amount?
Who determines DCP's investment options?
How will my deferred compensation be invested?
How do I designate my beneficiaries?
How do I obtain a distribution?
How will my accumulated deferrals be distributed in the event of my death?
If my beneficiary dies while receiving my accumulated deferrals, who will get the remainder of the account?
How will the account be distributed if my beneficiary is my spouse?
How will the account be distributed if my beneficiary is not my spouse?
How will my accumulated deferrals be distributed if my beneficiary is an organization, estate, or trust?
How will the account be distributed if my beneficiary is a minor?
Will the department honor domestic relations orders?
UNFORESEEABLE EMERGENCY
May I have some or all of my accumulated deferrals in the event of an unforeseeable emergency?
LEAVE OF ABSENCE
May I stay in the plan if I am on a leave of absence?
AMENDMENT OR TERMINATION OF PLAN
What happens if the plan is terminated?
Does the department have the right to amend the plan?
RELATIONSHIP TO OTHER PLANS
Will my retirement benefit be affected by the amount of compensation I defer?
TRANSFER IN LIEU OF CASH
May I receive assets in lieu of cash?
NONASSIGNABILITY CLAUSE
May I transfer or assign my accumulated deferrals?
ASSETS
How are the plan's assets protected for the exclusive benefit of participants and beneficiaries?
PARTICIPATION BY DEPARTMENT OFFICERS
AND EMPLOYEES AND MEMBERS OF THE
EMPLOYEE RETIREMENT BENEFITS BOARD
Are department officers and employees eligible to participate in the plan?
EMPLOYER CONTRIBUTIONS
Is my employer allowed to contribute to my deferred compensation account?
INVESTMENT RESPONSIBILITY
What is the state investment board's responsibility regarding investments?
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