{"formats":[{"name":"JSON","format":"json","url":"\/downloads\/2025\/code-json\/51.1-604.json"},{"name":"Plain Text","format":"text","url":"\/downloads\/2025\/code-text\/51.1-604.txt"},{"name":"XML","format":"xml","url":"\/downloads\/2025\/code-xml\/51.1-604.xml"},{"name":"HTML","format":"html","url":"\/downloads\/2025\/code-html\/51.1-604.html"}],"law_id":55794,"edition_id":1,"section_id":55794,"structure_id":14431,"section_number":"51.1-604","catch_line":"Standards for deferred compensation plans","history":"1974, c. 461, \u00a7 51-111.67:19; 1987, c. 619; 1990, c. 832; 1992, c. 276; 2002, c. 311; 2014, c. 747.","full_text":"No deferred compensation plan shall become effective until the Board, county, municipality, authority or other political subdivision of the Commonwealth is satisfied, by opinion of its respective counsel, such federal agency or agencies as may be deemed necessary, or otherwise, that the contributions thereunder and\/or the investment products purchased pursuant to the plan (i) will not be included in the employee’s taxable income under federal or state law until it is actually received by the employee under the terms of the plan, provided that such contributions will nonetheless be deemed compensation at the time of deferral for the purposes of social security coverage, for the purposes of the Virginia Retirement System, and for any other retirement, pension, or benefit program established by law, or (ii) are designated Roth contributions as defined in \u00a7 402A of the Internal Revenue Code of 1986, as amended.","order_by":null,"text":{"0":{"id":204394,"text":"No deferred compensation plan shall become effective until the Board, county, municipality, authority or other political subdivision of the Commonwealth is satisfied, by opinion of its respective counsel, such federal agency or agencies as may be deemed necessary, or otherwise, that the contributions thereunder and\/or the investment products purchased pursuant to the plan (i) will not be included in the employee’s taxable income under federal or state law until it is actually received by the employee under the terms of the plan, provided that such contributions will nonetheless be deemed compensation at the time of deferral for the purposes of social security coverage, for the purposes of the Virginia Retirement System, and for any other retirement, pension, or benefit program established by law, or (ii) are designated Roth contributions as defined in \u00a7 402A of the Internal Revenue Code of 1986, as amended.","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":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},"next_section":{"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},"metadata":false,"official_url":"https:\/\/law.lis.virginia.gov\/vacode\/51.1-604\/","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 2014, chapter 747<\/a>.<\/p>","references":false,"refers_to":false,"permalink":{"id":236193,"object_type":"law","relational_id":55794,"identifier":"51.1-604","token":"51.1\/6\/51.1-604","url":"\/51.1-604\/","edition_id":1,"permalink":0,"preferred":1},"url":"\/51.1-604\/","token":"51.1\/6\/51.1-604","dublin_core":{"Title":"Standards for deferred compensation plans","Type":"Text","Format":"text\/html","Identifier":"\u00a7 51.1-604","Relation":"Code of Virginia"},"html":"\n\t\t\t\t\t\t

No deferred compensation plan<\/span> shall become effective until the Board<\/span>, county, municipality, authority or other political subdivision of the Commonwealth is satisfied, by opinion<\/span> of its respective counsel<\/span>, such federal agency or agencies as may be deemed necessary, or otherwise, that the contributions thereunder and\/or the investment products purchased pursuant to the plan (i) will not be included in the employee’s taxable income under federal or state law<\/span> until it is actually received by the employee under the terms of the plan, provided that such contributions will nonetheless be deemed compensation at the time of deferral for the purposes of social security coverage, for the purposes of the Virginia Retirement System, and for any other retirement, pension, or benefit program established by law<\/span>, or (ii) are designated Roth contributions as defined in \u00a7 402A of the Internal Revenue Code of 1986, as amended.<\/p><\/section>","plain_text":" CODE OF VIRGINIA\n\nSTANDARDS FOR DEFERRED COMPENSATION PLANS (\u00a7 51.1-604)\n\nNo deferred compensation plan shall become effective until the Board, county,\nmunicipality, authority or other political subdivision of the Commonwealth is\nsatisfied, by opinion of its respective counsel, such federal agency or agencies\nas may be deemed necessary, or otherwise, that the contributions thereunder\nand\/or the investment products purchased pursuant to the plan (i) will not be\nincluded in the employee’s taxable income under federal or state law until\nit is actually received by the employee under the terms of the plan, provided\nthat such contributions will nonetheless be deemed compensation at the time of\ndeferral for the purposes of social security coverage, for the purposes of the\nVirginia Retirement System, and for any other retirement, pension, or benefit\nprogram established by law, or (ii) are designated Roth contributions as defined\nin \u00a7 402A of the Internal Revenue Code of 1986, as amended.\n\nHISTORY: 1974, c. 461, \u00a7 51-111.67:19; 1987, c. 619; 1990, c. 832; 1992, c.\n276; 2002, c. 311; 2014, c. 747.","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}}