Summary of Other Key Provisions

Summary of Other Key Provisions
Issue	Summary	Comments
Change In Status of Employer	If a governmental 457(b) plan sponsor is "privatized," the employer losing that governmental status may transfer its 457(b) plan to another governmental employer within the same state.	Over the years, some governmental employers have privatized. This guidance will help impacted employers to more confidently address these situations in the future.
Plan Termination	A 457(b) plan may be terminated. To be treated as terminated, amounts must be distributed to all participants and beneficiaries as soon as administratively practical after termination of the plan.	On occasion, employers want to terminate their 457 plan. The guidance provided will help impacted employers to confidently address these situations in the future.