Guest Brian Cox Posted March 14, 2000 Posted March 14, 2000 Are loans permitted in Section 457 Government Deferred Compensation Plans? If so, please provide written information to prove to plan administrator> Thank you, E. Brian Cox
Carol V. Calhoun Posted March 14, 2000 Posted March 14, 2000 No, 457 plans cannot make loans to participants. In recent private letter rulings, the IRS has been requiring 457 plans to assert that they do not permit such loans. See, e.g., Private Letter Ruling 199932045 (August 16, 1999). ------------------ Employee benefits legal resource site 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.
Recommended Posts
Archived
This topic is now archived and is closed to further replies.