1. No plan in the Program becomes effective and no deferral may be made until the plan meets the requirements of 26 U.S.C. 401(a), 401(k), 403(b), 457 or 3121, including, without limitation, a FICA alternative plan, or any other federal law authorizing a plan to reduce taxable compensation or other forms of compensation, as applicable, for eligibility. 2. Income deferred during a period in which no income tax is imposed by the State or a political subdivision may not be taxed when paid to the employee.
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