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457(b) and (f) Plans under the New Proposed Regulations
Presentor: Derrin Watson Recorded Date: 8/10/2016 Duration: 100 Min.

This program was recorded during a live presentation given on August 10, 2016 at 12:00PM EST.

The IRS has just released proposed regulations under Code §457. These regulations update the rules for 457(b) plans, discuss arrangements, such as severance plans, which are exempt from Code §457 altogether, and address the taxation of ineligible plans under Code § 457(f).

This special web seminar will analyze the proposed regulations, on which taxpayers can immediately rely, and discuss what they mean for tax-exempt and governmental employers. Topics include:

  • Roth 457
    • Deferrals
    • In-plan Roth rollovers
    • Elective deferrals
  • Qualified accident and health insurance distributions
  • Application of HEART to 457 plans
  • Bona fide severance pay plans exempt from 457
    • Income limitation
    • Similarities and differences with 409A rules
    • Involuntary severance
      • Good reason severance
    • Window programs
  • Bona fide death and disability plans
  • Bona fide sick and vacation plans
  • Taxation of 457(f) amounts
  • Key definitions
    • Deferral of compensation
    • Short-term deferrals
    • Recurring part-year compensation
    • Substantial risk of forfeiture
  • Interaction with Code §409A
  • Effective date


Prerequisites: There are no prerequisites or other advanced preparation for this program. The instructor will assume attendees have a working knowledge of 457(b) and (f) arrangements, with a minimum of 2 years of experience in dealing with 457 plans.

Level: Intermediate

Instructional Delivery Method: Group – Internet-Based

NASBA Field of Study: Taxes

Speaker: S. Derrin Watson, J.D.
Recipient of ASPPA's 2006 Educator of the Year Award

Objectives: After attending the program you should be able to:

  • List the key provisions of the proposed 457 regulations
  • Determine whether a plan provides for a substantial risk of forfeiture
  • Determine whether a severance plan is exempt from 457
  • Advise an employer regarding the effective date options in the regulations
  • Determine whether and when an arrangement results in a deferral of compensation
  • Compute the tax consequences of a 457(f) account balance plan and determine when they apply


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