Sec. 1618. Coordination of contribution limitations for 403(b) plans and governmental 457(b) plans
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/bill/113/hr/1/ih/section-1618A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
403(b) plans and governmental 457(b) plans 403(b) plans Subsection
(g)of section 402 is amended by striking paragraph
(7)and by redesignating paragraph
(8)as paragraph (7). Subsection
(b)of section 403 is amended— in paragraph (3), by striking for the most recent period and all that follows through more than five years , and by striking paragraph (4). Subsection
(c)of section 415 is amended by striking paragraph (7). 415(c) limits Paragraph
(4)of section 415(k) is amended by striking each employer with respect to which the participant has the control required and inserting the employer and each employer which is part of a controlled group or under common control . 457(b) plans Paragraph
(3)of section 402(g) is amended by striking and at the end of subparagraph (C), by striking the period at the end of subparagraph
(D)and inserting , and , and by inserting after subparagraph
(D)the following new subparagraph: any amount deferred under an eligible deferred compensation plan (as defined in section 457(b)) of an eligible employer described in section 457(e)(1)(A). . Paragraph
(2)of section 415(a) is amended by striking or at the end of subparagraph (B), by inserting or at the end of subparagraph (C), and by inserting after subparagraph
(C)the following new subparagraph: an eligible deferred compensation plan (as defined in section 457(b)) of an eligible employer described in section 457(e)(1)(A), . Paragraph
(1)of section 415(k) is amended by striking or at the end of subparagraph (C), by striking the period at the end of subparagraph
(D)and inserting , or , and by adding at the end the following new subparagraph: an eligible deferred compensation plan (as defined in section 457(b)) of an eligible employer described in section 457(e)(1)(A). . Paragraph
(3)of section 457(b) is amended by inserting , in the case of an eligible employer described in subsection (e)(1)(B), after which . Section 25B(d)(1)(B) is amended— by striking clause (ii), and by striking the amount of— and all that follows through any elective deferrals and inserting the following: the amount of any elective deferrals . Section 402A(e)(2) is amended— by striking , and and all that follows and inserting a period, and by striking means— and all that follows through any elective deferral described in subparagraph
(A)or
(C)and inserting the following: means any elective deferral described in (A), (C), or
(E). Section 457(e) is amended by striking paragraph (18). Section 414(u)(2)(C) is amended by inserting by an eligible employer described in section 457(e)(1)(B) after (as defined in section 457(b)) . Section 414(v)(2)(D) is amended— by striking clauses (i), (ii), and
(iv)of , and by striking , and plans described in clause
(iii)and all that follows through the end and inserting a period. Section 414(v)(3)(A)(i) is amended by striking (determined without regard to section 457(b)(3)) . Section 414(v)(6)(B) is amended by striking subsection (u)(2)(C) and inserting section 402(g)(3) . Section 414(v)(6) is amended by striking subparagraph (C). The amendments made by this section shall apply to plan years and taxable years beginning after December 31, 2014.