Q. What happens to balances when a 457(b) plan is terminated?
A. If a 457(b) plan is terminated, balances in participants’ accounts can be distributed to participants and beneficiaries. Those distributions are subject to income tax.
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Q. What happens to balances when a 457(b) plan is terminated?
A. If a 457(b) plan is terminated, balances in participants’ accounts can be distributed to participants and beneficiaries. Those distributions are subject to income tax.
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