Apart from one brief regulation issued several years ago, the Internal Revenue Service (IRS) has never issued comprehensive guidance for 457(f) plan sponsors. Comprehensive guidance has been discussed and was expected to be issued in 2011, but did not occur (click here to see Client Alert Restrictive IRS Guidance for 457(f) Plans Likely to be Issued in 2011). However, new guidance is anticipated within the next few months in the form of proposed regulations. Upon issuance of the regulations, the IRS will grant a “comment period” during which the public will be able to review, and suggest changes to, the regulations.
Source: Employee Benefits & Executive Compensation Client AlertLeave Drinker Biddle to Learn More