The 457 Answer Book is an in-depth resource that provides answers to the questions that tax-exempt organizations, state and local governments, their accountants, tax and legal advisors, 457 administrators, product providers, and investment counselors need to know.
Guiding readers through all aspects of 457 plan administration – from installation through the audit process – the 457 Answer Book describes: the duties and responsibilities of those performing the functions; the required legal, accounting, and administrative tasks; checklists that facilitate control of each administrative process; and suggested forms.

The 457 Answer Book also provides:

The history and legal origins of the plan

Design and drafting standards

Suggested administrative procedures

Data processing and payroll considerations

Operations and fund flow mechanics

Marketing and sales suggestions

And much more

457 Answer Book, Sixth Edition has been updated to include:

A completely revised and updated chapter on eligible 457 plans

A discussion on the effect of the Supreme Court’s June 26, 2013 decision in

United States v. Windsor on 457 plans

A completely revised and updated chapter on beneficiary designations

How operational and document failures can be corrected in a governmental

457(b) plan on a provisional basis

How would proposed regulations issues in 2012 revise the meaning of andquot;substantial risk of forfeitureandquot; for an ineligible 457(f) plan

How a sponsor of a 457(b) plan can use the EBSA’s Delinquent Filer Voluntary

Compliance Program (DFVCP) to avoid civil penalties under ERISA

A completely revised and updated chapter on IRS form reporting

Recent IRS guidance regarding the corrections of certain failures of a nonqualified deferred compensation plan to comply with Code Section 409A

Detailed information regarding federal income tax withholding requirements for distributions from 457(b) plans

How and when a DRO may provide for a spouse in a same-sex couple

A Discussion of the provisions allowing for in-plan Roth conversions under the American Taxpayer Relief Act of 2012 (ATRA)

How a technical correction allows distributions from governmental retirement plans to be excluded from gross income to pay certain health-care premiums

Discussion of the status of exclusive benefit custodial accounts holding mutual fund shares in connection with 457 plans for eligible public employers

The IRS’s updates to the missing persons’ letter forwarding program

How Hurricane Sandy impacts the distribution rules from eligible 457(b) plans

Why an Ohio court excluded from the debtor’s estate assets associated with a non-governmental 457 plan

The limited relief provided to eligible 457 plans sponsored by private tax-exempt organizations under the 2013 revision of the IRS’s Employee Plans Compliance Resolution System (EPCRS)

A discussion of how distributions to participants, former participants, and beneficiaries of a deceased participant are reported to the IRS