457(f) plans - updating documents

[Belgarath]

Don't really know anything about this subject (457(f) plans). There were proposed regulations issued in 2016 - are updates to 457(f) documents required by a certain date, similar to qualified plans? A client mentioned in passing that they have one of these, and I don't know who did the document or if any updates have been made (if even required in the first place).

Any thoughts appreciated.

[XTitan]

Nothing needs to be amended today based on the proposed regulations.  IF the regulations ever become final, then there may be opportunities to amend existing plans.  Frankly, in this case, the proposed regulations are a bit more permissive than what prior guidance (Notice 2007-62) indicated.

 

[Belgarath]

Thanks!