Sec. 309. Eliminate the first day of the month requirement for governmental section 457(b) plans
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first day of the month requirement for governmental section 457(b) plans Paragraph
(4)of section 457(b) of the Internal Revenue Code of 1986 is amended to read as follows: which provides that compensation— in the case of an eligible employer described in subsection (e)(1)(A), will be deferred only if an agreement providing for such deferral has been entered into before the compensation is currently available to the individual, and in any other case, will be deferred for any calendar month only if an agreement providing for such deferral has been entered into before the beginning of such month, . The amendment made by this section shall apply to taxable years beginning after the date of the enactment of this Act.