Restate a governmental 457 plan as a 401(k) plan?

[Guest jkrad]

With the passing of EGTRRA, is it possible to restate a governmental 457 plan as a 401(K) psp?

[Everett Moreland]

No

[mbozek]

Govt cannot establish 401(k) plans after June 1986. But why would a govt er want to establish a 401(k) plan in place of a 457 plan which has no discrimination testing? Seems like a lot of unnecessary work. New tax law proposal will eliminate the differences between 457 and 401(k) plans.