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Section 457 catch-up provision: any restriction on the timing of a par


Guest A Montez
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Guest A Montez

Is there any restriction on the timing of a participant's election to use the section 457 catch-up provision? In other words, would a participant be able to elect to have catch-up apply for a given year during the week before the participant retires, or does this election need to be made at the beginning of the three-year (or lesser) period to which the catch-up is intended to apply? Does the fact that amounts may be deferred for any calendar month only pursuant to a deferral agreement entered prior to the first day of the month suggest that the catch-up election must be made in advance, because it's essentially a new or different election?

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I fixed the link; it should be working now.

Employee benefits legal resource site

The opinions of my postings are my own and do not necessarily represent my law firm's position, strategies, or opinions. The contents of my postings are offered for informational purposes only and should not be construed as legal advice. A visit to this board or an exchange of information through this board does not create an attorney-client relationship. You should consult directly with an attorney for individual advice regarding your particular situation. I am not your lawyer under any circumstances.

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