Model Amendments for Tax-Exempts?

[Alf]

I know the IRS just issued model amendments for governmental 457s. What about tax-exempts? Why are they different/what (very basic I am sure) point am I missing?

[E as in ERISA]

Some of the 457(b) rules apply only to governmentals.

[Guest cphs]

The Rev Proc is clear that the model amendments do not apply to tax exempts. However, any thoughts on incorporating model amendments into tax exempt 457(b) plans where they could be applicable?

[Lori Friedman]

Alf, Sec. 457 applies to both government and tax-exempt employers, but the two types of arrangements have very little in common. You really have to approach government 457 plans and exempt organization 457 plans as very different "animals".

[mbozek]

The model amendments can be applied to provisions that are common to both types of plans, e.g., QDRO and MRDs. But, unlike public employers, QDROs in a NP are an express exception to the nonalienaton rules of ERISA. The proposed tax legislation on non NQDC plans will not apply to 457(b) plans. I avoid model language because it doesnt provide all of the options and fexibility available to a sponsor so I am not sure what provisons apply to both types of plans.