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) or 457, 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.
(Added to NRS by 1979, 800, A 2001, 1006)
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