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I. SECTION 457 DEFERRED COMPENSATION PLANS ... - IRS …

I. SECTION 457 DEFERRED COMPENSATION PLANS OF STATE AND LOCAL GOVERNMENT AND TAX- exempt EMPLOYERS AFTER THE SMALL BUSINESS JOB PROTECTION ACT OF 1996 AND THE TAXPAYER RELIEF ACT OF 1997 by Cheryl Press and Robert Patchell 1. Introduction SECTION 457 PLANS are nonqualified, DEFERRED COMPENSATION PLANS established by state and local government and tax- exempt employers. These employers can establish either eligible (covered by 457(b)) or ineligible (covered by 457(f)) PLANS , and are subject to the specific requirements and deferral limitations of SECTION 457 of the Internal Revenue code of 1986 (" code "). Certain other types of PLANS established by state and local government and tax- exempt employers are not subject to the requirements of SECTION 457, however.

Dec 31, 1996 · exempt from tax under subtitle A of the Code. Section 457(e)(1), Section 1.457-2(c) of the Regulations. Section 457 therefore applies to all tax-exempt employers that maintain a ... unless an exception to the funding requirement applies. Government plans are expressly exempt from the funding requirements of ERISA. Other tax-exempt employers may ...

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Transcription of I. SECTION 457 DEFERRED COMPENSATION PLANS ... - IRS …

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