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Legislative Updates, Court Rulings, IRS Revenue Rulings, and Recent Legislation
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AJCA Rules Take Effect on January 1, 2005
The American Jobs Creation Act (AJCA), which was signed into law October 22, 2004, makes numerous changes to the rules governing nonqualified deferred compensation (see the October 2004 editions of Central Intelligence for a detailed description of the AJCA provisions on deferred compensation). The provisions of the AJCA take effect on January 1, 2005 and require that existing deferred compensation plans be amended to comply with the new rules.
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