IRS to Conduct Compliance Reviews of 457(b) Plans

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The IRS Employee Plans Compliance Unit (ECPU) is conducting a compliance review of nonqualified deferred compensation plans commonly known as “top hat” plans established under Internal Revenue Code Section 457(b).  The ECPU is looking for possible compliance irregularities related to funding, loans, catch-up contributions and plan sponsor eligibility.  If you receive an ECPU compliance letter […]