Text: HF00594 Text: HF00596 Text: HF00500 - HF00599 Text: HF Index Bills and Amendments: General Index Bill History: General Index
PAG LIN 1 1 Section 1. NEW SECTION. 730.6 EMPLOYEE PENSION PLANS – 1 2 PENALTY. 1 3 1. For purposes of this section: 1 4 a. "Employee pension plan" means a qualified pension plan 1 5 subject to the requirements of section 401(k) of the Internal 1 6 Revenue Code. 1 7 b. "Timely deposit" means within a period of time 1 8 consistent with federal requirements governing the time 1 9 employers are required to deposit an employee's pension 1 10 contribution into an employee pension plan. 1 11 2. A person who fails to timely deposit an employee's 1 12 contributions following a payroll deduction of the 1 13 contribution from the employee's pay into the employee pension 1 14 plan for the employee violates this section. 1 15 3. A person who violates this section commits a serious 1 16 misdemeanor. 1 17 EXPLANATION 1 18 This bill provides that a person commits a serious 1 19 misdemeanor if the person fails to timely deposit an 1 20 employee's contribution made through a payroll deduction into 1 21 an employee pension plan. An employee pension plan is defined 1 22 as a qualified plan under section 401(k) of the Internal 1 23 Revenue Code. Timely deposit is defined consistently with 1 24 federal requirements. 1 25 LSB 2053HH 77 1 26 ec/sc/14.4
Text: HF00594 Text: HF00596 Text: HF00500 - HF00599 Text: HF Index Bills and Amendments: General Index Bill History: General Index
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