Section 21-5-505 - Authority of Department of Finance and Administration(a) The Department of Finance and Administration is authorized to enter into contractual agreements with employees on behalf of the state to defer any portion of that employee's future compensation.(b) The department may, upon request, designate an officer or officers within any state agency, department, board, commission, or institution to enter into such contractual agreements with employees of that particular state agency, department, board, commission, or institution.Acts 1975, No. 669, § 2; 1977, No. 937, § 1; A.S.A. 1947, § 12-1619; Acts 1999, No. 1280, § 13.