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Public Pensions: Section 457 Plans Pose Greater Risk Than Other Supplemental Plans

HEHS-96-38 Published: Apr 30, 1996. Publicly Released: May 15, 1996.
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Highlights

Pursuant to a congressional request, GAO reviewed the status of public pension funding, focusing on how plans established under Internal Revenue Code (IRC) section 457 differ from plans created under IRC sections 401(k) and 403(b).

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Topics

Retirement Security
Civil service pensionsEmployee retirement plansFinancial managementGovernment retirement benefitsMunicipal employeesPension plan cost controlPensionsState employeesTax exempt statusTax law