In the story, "IRS: No Further Guidance Expected Soon on 457(b) Treatment at FCUs" in the May 17 issue, it was incorrectly reported that the deadline to establish a 457 plan was Dec. 31, 2006. That date applied to when employers need to amend their plans to comply with the IRS' new 409(A) rules, which were passed in 2004. Credit unions can still set up 457 plans.

Continue Reading for Free

Register and gain access to:

  • Breaking credit union news and analysis, on-site and via our newsletters and custom alerts
  • Weekly Shared Accounts podcast featuring exclusive interviews with industry leaders
  • Educational webcasts, white papers, and ebooks from industry thought leaders
  • Critical coverage of the commercial real estate and financial advisory markets on our other ALM sites, GlobeSt.com and ThinkAdvisor.com
NOT FOR REPRINT

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.