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Accounting For Deferrals

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Deferrals to a 457 plan are subject to FICA (and FUTA, if a non-governmental employer) taxes at the later of the time that (1) services are performed or (2) there is no substantial risk of forfeiture to the rights of the amounts deferred. In a typical 457 plan, amounts deferred are immediately “vested,” thus are subject to FICA/FUTA taxes at the time of deferral.


Hope this helps.

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