“Covered employee” defined

<Section effective July 1, 2025. >

1. “ Covered employee ” means a person who: (a) Is employed by a covered employer for not less than 120 days; (b) Has wages or other compensation that is allocable to the State; and (c) Is at least 18 years of age.

2. For purposes of the investment, withdrawal, transfer, rollover or other distribution of an Individual Retirement Account, the term also includes the beneficiary of a deceased covered employee.

3. The term does not include: (a) Any employee covered under the federal Railway Labor Act, 45 U.S.C. §§ 151 et seq. ; (b) Any employee on whose behalf an employer makes contributions to a Taft-Hartley multiemployer pension trust fund; or (c) Any person who is an employee of the Federal Government, the State or any other state, county or municipal corporation, or any of this State's or any other state's units or instrumentalities.