Section 8-25-116 - Roth contribution features(a) The state treasurer, with the approval of the commissioner of finance and administration, may adopt a new feature to one (1) or more of the state's deferred compensation plans, which plans include, but are not limited to, the 401(k), 403(b), and 457(b) plans that would permit state employees, including employees of institutions of higher education, to designate some or all of the employees' contributions as Roth contributions to the plans at the time the contributions are made, in accordance with § 402A of the Internal Revenue Code (26 U.S.C. § 402A).(b) A political subdivision or instrumentality of the state that makes available to its employees a profit sharing or salary reduction plan, including, but not limited to, those approved by the internal revenue service under §§ 401(k), 403(b), or 457(b) of the Internal Revenue Code (26 U.S.C. § 401(k); 26 U.S.C. § 403(b); and 26 U.S.C. § 457(b)), may, by resolution or ordinance of its governing body, adopt a Roth contribution feature to its plan as described in this section.(c) Any Roth contribution feature adopted pursuant to this section must conform to all applicable laws, rules, and regulations of the internal revenue service.Added by 2024 Tenn. Acts, ch. 605,s 6, eff. 3/27/2024.