Governmental Employer definition
Examples of Governmental Employer in a sentence
A Governmental Employer shall deposit Salary Reduction Contributions to the Trust within a period that is not longer than is reasonable for the administration of Participant Accounts.
Note: This form is for a Governmental Employer who sponsors both a 403(b) Plan, and a 457(b) Employee Deferred Compensation Plan.
A Governmental Employer under an Eligible 457 Plan may elect to permit Participants to make IRA contributions to this Plan in accordance with the Code §408(q) deemed IRA rules.
In the case of a Governmental Employer Plan, the Owner may be the trustee of a trust holding assets of the Plan.
On or after a severance from service, a Participant may transfer his Account to the 457(b) plan of another Governmental Employer for whom the individual is currently performing services.
A Governmental Employer under an Eligible 457 Plan may elect to permit Participants to make IRA contributions to this Plan in accordance with the Code §408(q) deemed IRA rules, commencing for Plan Years beginning after December 31, 2002.
In the case of a Governmental Employer Plan only, a request may also be made for a direct transfer to purchase permissive service credits.
Prior to a Participant’s severance from service, transfers may be made from the Plan to another 457(b) plan sponsored by a Governmental Employer only if all of the assets of the Plan are being transferred to another 457(b) plan sponsored by the Employer, or if the Plan’s assets are being transferred to another governmental plan within the same state.
The last two sentences do not apply to a Governmental Employer Plan in existence on August 20, 1996 until January 1, 1999 (or any earlier Plan amendment date).
In the case of a Governmental Employer Plan, the Owner may be the trustee of a trust holding assets of the plan or the Employer deemed as trustee of the Plan pursuant to Section 401(f) of the Code.