An employer may reduce the wage rates paid under State Finance and Procurement Article, §18-103(a), Annotated Code of Maryland, by not more than 50 cents of the hourly cost of the employer's contribution to an employee's deferred compensation plan. An employer who reduces the wages paid to an employee based on the employer's contribution to an employee's deferred compensation plan may not lower the employee's wage rate below the minimum wage as set in Labor and Employment Article, §3-413, Annotated Code of Maryland. An employer who reduces an employee's wage rate under §A of this regulation shall comply with the record reporting requirements of Regulation .05 of this chapter.