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Section 457(f)

The section of the Internal Revenue Code imposing most of the rules for NQDC plans sponsored by tax-exempt and government employers that set up Section 457 plans. Under Section 457(f), deferred amounts become immediately included in income when they are no longer subject to a substantial risk of forfeiture.

In June 2016, the IRS issued proposed regulations on IRC Section 457. See commentaries from Drinker Biddle & Reath and McGuireWoods that discuss the proposed changes.