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Taxable Year


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Guest Retina
Posted

The Code and regs say the maximum deferral limitations for a 457(b) plan are to be applied on a taxable year basis. How then are the limitations to be applied in the case of a plan using a non-calendar plan year?

  • 3 months later...
Guest Retina
Posted

Just so I'm clear, does that mean, for example, that a contribution made for a participant at end of '04-'05 fiscal Plan Year gets benefit of $14k '05 deferral limit (assuming no more distributions made in '05)?

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