457(b) missed deferral, correction?

[WCC]

Hello,

Is the correction for failure to implement a deferral election in a 457b plan the same as the correction in a 401k or 403b? I am familiar with the correction within the 401k and 403b but not sure about the 457. I cannot find anything to answer that question.

Thank you

[QDROphile]

The IRS has said informally that principles under EPCRS are apt for 457(b) plans (at least for government plans in certain circumstnaces), but there is no correction formality or assurance that corrections will provide relief. If I were dealing with a top-hat 457(b) plan, I would not follow the EPCRS guidance.