                                 CODE OF VIRGINIA

CONTRACT FOR DEFERRED COMPENSATION (§ 51.1-601)

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&#8217;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.

HISTORY: 1974, c. 461, § 51-111.67:16; 1987, c. 619; 1990, c. 832; 1992, c.
276; 2002, c. 311; 2007, c. 253.