New GASB Exposure Draft Would Alter 457 Plan Reporting

Vectra DigitalBlog, Retirement

The Governmental Accounting Standards Boards (GASB) released a new exposure draft in June 2019 entitled “Internal Revenue Code Section 457 Deferred Compensation Plans That Meet the Definition of a Pension Plan and Supersession of GASB Statement 32.” While a brief statement, the reporting requirements for 457 plans could be impacted. According to the statement, 457 plans have evolved since the … Read More