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Non-qualified 457 Governmental Plan and pending legislation.


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I have written before and have had good responses. I'm still trying to withdraw funds from a non-qualified 457 Governmental Plan that I received in a divorce settlement. My QDRO states that I am able to withdraw the funds at the participant's (ex-husband) earliest retirement age, which he has passed. Under the present IRS code I have not been able to do this. I would like to know if the new legislation that was passed by the House and heads to the Senate and President (HR 1102) will be of help. The section "Clarification of tax treatment of division of Section 457 Plan benefits upon divorce" has a waiver of certain distribution requirements, inserting section 457(d). From what I have read this would treat 457 non-qualified plans, like a 457, like a qualified plan and that for distributions and payments after 12/31/00 the qualified plan tax rules for QDRO's would apply to 457 plan distributions. Does this mean that I will be able to get a distribution after 12/31/00 if HR 1102 is passed in the Senate and signed by the President? Thanks for all your help!

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