NRS 287.350
Federal requirements prerequisite for operation of plan

taxation of deferred income by State or political subdivision.

1.

No plan in the Program becomes effective and no deferral may be made until the plan meets the requirements of 26 U.S.C. § 401(a), 401(k), 403(b), 457 or 3121, including, without limitation, a FICA alternative plan, or any other federal law authorizing a plan to reduce taxable compensation or other forms of compensation, as applicable, for eligibility.

2.

Income deferred during a period in which no income tax is imposed by the State or a political subdivision may not be taxed when paid to the employee.

Source: Section 287.350 — Federal requirements prerequisite for operation of plan; taxation of deferred income by State or political subdivision., https://www.leg.state.nv.us/NRS/NRS-287.html#NRS287Sec350.

287.250
Definitions. 287.260
“Committee” defined. 287.270
“Deferred compensation” defined. 287.275
“Executive Officer” defined. 287.300
“Investment” defined. 287.310
“Program” defined. 287.320
Employer may agree with employee to defer compensation 287.325
Committee to Administer Public Employees’ Deferred Compensation Program: Appointment, terms and compensation of members 287.330
Committee to Administer Public Employees’ Deferred Compensation Program: Duties 287.335
Interest and income earned on money in deferred compensation account. 287.337
Employment of staff or consultants by Executive Officer. 287.338
Procedure for awarding contracts to vendors. 287.340
Deferrals of compensation: Deductions from payroll 287.350
Federal requirements prerequisite for operation of plan 287.360
Program additional to other retirement, pension and benefit systems. 287.365
Use of money withdrawn or appropriated from Program 287.370
Use of appropriated money in administration of Program.

Last Updated

Feb. 5, 2021

§ 287.350’s source at nv.us

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Location: https://nevada.public.law/statutes/nrs_287.350

Original Source: Section 287.350 — Federal requirements prerequisite for operation of plan; taxation of deferred income by State or political subdivision., https://www.leg.state.nv.us/NRS/NRS-287.html#NRS287Sec350 (last accessed Feb. 5, 2021).