{"formats":[{"name":"JSON","format":"json","url":"\/downloads\/2025\/code-json\/51.1-601.json"},{"name":"Plain Text","format":"text","url":"\/downloads\/2025\/code-text\/51.1-601.txt"},{"name":"XML","format":"xml","url":"\/downloads\/2025\/code-xml\/51.1-601.xml"},{"name":"HTML","format":"html","url":"\/downloads\/2025\/code-html\/51.1-601.html"}],"law_id":56583,"edition_id":1,"section_id":56583,"structure_id":14431,"section_number":"51.1-601","catch_line":"Contract for deferred compensation","history":"1974, c. 461, \u00a7 51-111.67:16; 1987, c. 619; 1990, c. 832; 1992, c. 276; 2002, c. 311; 2007, c. 253.","full_text":"In accordance with a plan of deferred compensation, the Commonwealth, or any state agency, county, municipality, authority, or other political subdivision may contract with any employee to defer all or any portion of that employee’s otherwise payable compensation and, pursuant to the terms of the plan and in such proportions as may be designated or directed under the plan, place such deferred compensation in investment products selected by the Commonwealth and its agencies, county, municipality, authority, or other political subdivision. All investment products shall be offered in compliance with applicable federal and state laws and regulations by persons who are duly authorized by applicable state and federal authorities.","order_by":null,"text":{"0":{"id":207076,"text":"In accordance with a plan of deferred compensation, the Commonwealth, or any state agency, county, municipality, authority, or other political subdivision may contract with any employee to defer all or any portion of that employee’s otherwise payable compensation and, pursuant to the terms of the plan and in such proportions as may be designated or directed under the plan, place such deferred compensation in investment products selected by the Commonwealth and its agencies, county, municipality, authority, or other political subdivision. All investment products shall be offered in compliance with applicable federal and state laws and regulations by persons who are duly authorized by applicable state and federal authorities.","type":"section","prefixes":[""],"prefix":"","entire_prefix":"","prefix_anchor":"","level":1}},"ancestry":[{"id":14431,"edition_id":1,"name":"Government Employees Deferred Compensation Plan Act","identifier":"6","label":"chapter","depth":2,"order_by":1,"parent_id":12947,"metadata":{},"date_created":"2026-06-26 03:48:07","date_modified":"2026-06-26 03:48:07","permalink":{"id":236167,"object_type":"structure","relational_id":14431,"identifier":"6","token":"51.1\/6","url":"\/51.1\/6\/","edition_id":1,"permalink":0,"preferred":1}},{"id":12947,"edition_id":1,"name":"Pensions, Benefits, and Retirement","identifier":"51.1","label":"title","depth":1,"order_by":1,"parent_id":null,"metadata":{},"date_created":"2026-06-26 03:44:04","date_modified":"2026-06-26 03:44:04","permalink":{"id":235029,"object_type":"structure","relational_id":12947,"identifier":"51.1","token":"51.1","url":"\/51.1\/","edition_id":1,"permalink":0,"preferred":1}}],"structure_contents":[{"id":68128,"structure_id":14431,"section_number":"51.1-600","catch_line":"Definitions","url":"\/51.1-600\/","token":"51.1\/6\/51.1-600","metadata":false},{"id":56583,"structure_id":14431,"section_number":"51.1-601","catch_line":"Contract for deferred compensation","url":"\/51.1-601\/","token":"51.1\/6\/51.1-601","metadata":false},{"id":79557,"structure_id":14431,"section_number":"51.1-601.1","catch_line":"Participation in plan by certain employees","url":"\/51.1-601.1\/","token":"51.1\/6\/51.1-601.1","metadata":false},{"id":71102,"structure_id":14431,"section_number":"51.1-602","catch_line":"Deferred compensation plan for employees of the Commonwealth; administered by the Board","url":"\/51.1-602\/","token":"51.1\/6\/51.1-602","metadata":false},{"id":57693,"structure_id":14431,"section_number":"51.1-603","catch_line":"Local deferred compensation plans","url":"\/51.1-603\/","token":"51.1\/6\/51.1-603","metadata":false},{"id":68801,"structure_id":14431,"section_number":"51.1-603.1","catch_line":"Participation by employees of political subdivisions in deferred compensation plan of Virginia Retirement System","url":"\/51.1-603.1\/","token":"51.1\/6\/51.1-603.1","metadata":false},{"id":55794,"structure_id":14431,"section_number":"51.1-604","catch_line":"Standards for deferred compensation plans","url":"\/51.1-604\/","token":"51.1\/6\/51.1-604","metadata":false},{"id":82779,"structure_id":14431,"section_number":"51.1-605","catch_line":"Other retirement, pension, etc., systems not affected; annual report","url":"\/51.1-605\/","token":"51.1\/6\/51.1-605","metadata":false},{"id":61761,"structure_id":14431,"section_number":"51.1-606","catch_line":"Repealed","url":"\/51.1-606\/","token":"51.1\/6\/51.1-606","metadata":false}],"previous_section":{"id":68128,"structure_id":14431,"section_number":"51.1-600","catch_line":"Definitions","url":"\/51.1-600\/","token":"51.1\/6\/51.1-600","metadata":false},"next_section":{"id":79557,"structure_id":14431,"section_number":"51.1-601.1","catch_line":"Participation in plan by certain employees","url":"\/51.1-601.1\/","token":"51.1\/6\/51.1-601.1","metadata":false},"metadata":false,"official_url":"https:\/\/law.lis.virginia.gov\/vacode\/51.1-601\/","history_text":"

This law was first created in 1974. The record of its establishment is cataloged in chapter 461 of that year\u2019s edition of \u201cActs of Assembly,\u201d the annual state publication listing all changes made to the Code of Virginia in that year. Unfortunately, the 1974 \u201cActs\u201d aren\u2019t available online. It has been modified 5 times. Those modifications are cataloged by \u201cThe Acts of Assembly,\u201d a state publication, by year and chapter. Those modifications that can be read on the General Assembly\u2019s website will be linked accordingly. Those modifications are as follows: in 1987, chapter 619; in 1990, chapter 832; in 1992, chapter 276; in 2002, chapter 311<\/a>; in 2007, chapter 253<\/a>.<\/p>","references":[{"id":79828,"section_number":"2.2-4501","catch_line":"Legal investments for other public funds","order_by":null,"url":"\/2.2-4501\/"}],"refers_to":false,"permalink":{"id":236173,"object_type":"law","relational_id":56583,"identifier":"51.1-601","token":"51.1\/6\/51.1-601","url":"\/51.1-601\/","edition_id":1,"permalink":0,"preferred":1},"url":"\/51.1-601\/","token":"51.1\/6\/51.1-601","dublin_core":{"Title":"Contract for deferred compensation","Type":"Text","Format":"text\/html","Identifier":"\u00a7 51.1-601","Relation":"Code of Virginia"},"html":"\n\t\t\t\t\t\t

In accordance with a plan of deferred compensation, the Commonwealth, or any state agency, county, municipality, authority, or other political subdivision may contract<\/span> with any employee to defer all or any portion of that employee’s otherwise payable compensation and, pursuant to the terms of the plan and in such proportions as may be designated or directed under the plan, place such deferred compensation in investment products selected by the Commonwealth and its agencies, county, municipality, authority, or other political subdivision. All investment products shall be offered in compliance with applicable federal and state laws<\/span> and regulations by persons who are duly authorized by applicable state and federal authorities.<\/p><\/section>","plain_text":" CODE OF VIRGINIA\n\nCONTRACT FOR DEFERRED COMPENSATION (\u00a7 51.1-601)\n\nIn accordance with a plan of deferred compensation, the Commonwealth, or any\nstate agency, county, municipality, authority, or other political subdivision\nmay contract with any employee to defer all or any portion of that\nemployee’s otherwise payable compensation and, pursuant to the terms of\nthe plan and in such proportions as may be designated or directed under the\nplan, place such deferred compensation in investment products selected by the\nCommonwealth and its agencies, county, municipality, authority, or other\npolitical subdivision. All investment products shall be offered in compliance\nwith applicable federal and state laws and regulations by persons who are duly\nauthorized by applicable state and federal authorities.\n\nHISTORY: 1974, c. 461, \u00a7 51-111.67:16; 1987, c. 619; 1990, c. 832; 1992, c.\n276; 2002, c. 311; 2007, c. 253.","edition":{"id":1,"name":"2025","slug":"2025","date_created":"2026-06-21 22:39:22","date_modified":"2026-06-21 22:39:22","current":1,"order_by":1,"last_import":null}}