287.450 - Deferrals of compensation: Deductions from payroll; limitation on amount deferred. - Nevada Statutes

287.450  Deferrals of compensation: Deductions from payroll; limitation on amount deferred.

      1.  Deferrals of compensation may be withheld as payroll deductions in accordance with the agreement between the political subdivision and a participating employee.

      2.  The amount of deferred compensation set aside by the political subdivision to a plan under the program during any calendar year may not exceed the amount authorized by 26 U.S.C. § 401(a) or 457, as applicable.

      (Added to NRS by 1979, 800; A 2001, 1005)