Allows volunteer firefighters to participate in the state deferred compensation program.

This bill allows volunteer firefighters to participate in the state deferred compensation program. It modifies the definition of "employee" to include volunteer firefighters, enabling them to defer a portion of their income. The deferred portion can be invested in various options, including credit unions, banks, and insurance companies. The bill also mandates that new full-time state employees be enrolled in the deferred compensation plan unless they opt out. Volunteer firefighters participating in the plan will still be eligible for other pension systems.

Allows volunteer firefighters to participate in the state deferred compensation program.

This bill allows volunteer firefighters to participate in the state deferred compensation program. It modifies the definition of "employee" to include volunteer firefighters, enabling them to defer a portion of their income. The deferred portion can be invested in various options, including credit unions, banks, and insurance companies. The bill also mandates that new full-time state employees be enrolled in the deferred compensation plan unless they opt out. Volunteer firefighters participating in the plan will still be eligible for other pension systems.