CHAPTER 313

FORMERLY SENATE JOINT

RESOLUTION NO. 25

AUTHORIZING AND DIRECTING THE SECRETARY OF THE DEPARTMENT OF FINANCE AND THE STATE TREASURER TO INITIATE PAYROLL DEDUCTIONS FOR THE DEFERRED COMPENSATION PLAN.

WHEREAS, the State of Delaware through the Personnel Commission approved the Deferred Compensation Plan for employees of the State of Delaware; and

WHEREAS, the Deferred Compensation Plan provides a convenient method for all employees of the State of Delaware, including those in public and higher education, to save voluntarily for their future retirement from public service by signing an authorization for payroll deductions for this purpose; and

WHEREAS, the Deferred Compensation Plan is only possible through regular payroll deductions;

NOW THEREFORE,

BE IT RESOLVED by the Senate and the House of Representatives of the State of Delaware, with the approval of the Governor, as attested by his signature appended hereto, that the Secretary of the Department of Finance and the Treasurer of the State of Delaware be authorized and directed to start payroll deductions for the specific purpose of initiating the Deferred Compensation Plan as soon as possible after the enactment of this resolution.