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United States · Bill · HR

H.R. 3312 (100th)

Section 457 Clarification Act of 1987

openUnited States· United States Congress· EN

Introduced

21 September 1987

Last action

Status

Provisions of Measure Incorporated Into H.R.4333.

Sponsors

Subjects

Discovery layer

Source updated

28 August 2025

Summary

Section 457 Clarification Act of 1987 - Amends the Internal Revenue Code to state that the accounting provisions applicable to the deferred compensation plans of State and local governments and of private tax-exempt organizations shall not apply to nonelective deferred compensation. Directs the Secretary of the Treasury to promulgate regulations defining nonelective deferred compensation. Applies retroactively to tax year 1979 and thereafter.

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1 official file

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