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457 |
Also found in: Financial, Wikipedia | 0.02 sec. |
457
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| Current law allows deferred compensation to be
offered to key executives exclusively within Section 457 of the Internal
Revenue Code. 457 plan contribution
limits increase from the lesser of $8,500 or one-third of compensation
in 2001 to the lesser of $15,000 or 100% of compensation in 2006. Section 457 enables state and local governments to establish
deferred compensation plans for their employees. |
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