GASB Standards require that IRS 457 Deferred Compensation Plans, if administered by the governmental unit, be reported as pension trust funds.

Question

Quizplus · Accepted Answer

If a 457 deferred compensation plan is administered by an entity outside a government, then no accounting is required by the government. If the government administers the plan, the resources are held in trust and accounted for as a pension trust fund.

GASB Standards Require That IRS 457 Deferred Compensation Plans, If