Last week I posed a question for response from the group and got the usual overwhelming number of people sharing their thoughts. The issus was: "We recently hired a regular full-time staff member with a salary over $40,000 who was exercising the 457 Catch-Up provision at his former employer. He is insisting he can continue the catch-up in his new job." Based upon that set of facts, I received more than 20 responses: The predominant theme was to consider the risk and allow the catch-up; Themes repeated included: 1) very low risk and IRS will accept documented efforts at due diligence even if an error occurred 2) Get docmunetation from employee (w-2) or former employer to demonstatre due diligence 3) It is ok, I did it myself I addition I got a request to post a summary. Thanks to Merced, Daly City, Union Sanitary, Santa Maria, Fullerton, Camarillo, Napa, Fremont, Arroyo Grande, Porterville, Marin Water, Whittier, Glendora, Glendale, El Segundo, Santee, Redlands, Alhambra, Brisbane, and any others not listed above...jim koser --- You are currently subscribed to members as: [email protected] To unsubscribe send a blank email to [EMAIL PROTECTED]
