457(b) Compensation

[Fisher]

It has always been my understanding that deferrals could be made from Severance Pay or an Early Retirement Incentive provided it was paid no later than the pay period that began prior to severance from employment. I realize deferrals can not be made post-separation, as they can be made from unused sick and/or vacation pay, if paid timely. Also understand that the election would have to be made in the month prior to when the deferral would be made. However, I can not find anything that specifically would allow for it other than it is not specifically excluded.

Any ideas?