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S 2480 100th Congress Senate

Public and Tax-Exempt Employees Deferred Compensation Act of 1988

Official title: A bill to amend the Internal Revenue Code of 1986 to clarify that section 457 does not apply to nonelective deferred compensation or basic employee benefits.

Introduced: July 8, 1988 See on congress.gov
Taxation AccountingEmployee benefit plansIncome taxLabor and Employment
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Local and Municipal GovernmentLocal officials and employeesState officials and employeesStatesTax-deferred compensation plansTax-exempt organizations
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This bill died when the 100th Congress ended
It never became law before the 100th Congress (1987–1988) adjourned, and bills don't carry over to the next Congress. It would have to be reintroduced. You can still save it for reference, but it won't receive updates.
 Everywhere this bill has been 2 steps
Introduced
In committee
Reported out
Passed House
Passed Senate
To President
Became law
Jun 7, 1988
Read twice and referred to the Committee on Finance.
Jun 7, 1988
Introduced in Senate
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 Latest action June 7, 1988

Read twice and referred to the Committee on Finance.

 Plain-English summary Congressional Research Service

Public and Tax-Exempt Employees Deferred Compensation Act of 1988 - Amends Internal Revenue Code accounting rules governing the year of inclusion of compensation deferred under qualified plans of State and local governments and of private tax-exempt organizations. Declares the rules to be inapplicable to both nonelective deferred compensation and basic employee benefits, including bona fide vacation plans, sick leave plans, sabbatical leave, and similar benefits.

 Committees of jurisdiction 1
 Cosponsors 1
All 1 Republican 1
R
McConnell, Mitch
Kentucky · Jul 8, 1988
Cite this page click to expand
APA
U.S. Congress. (2026). S. 2480: Public and Tax-Exempt Employees Deferred Compensation Act of 1988. 100th Congress. Open America. https://openamerica.io/bill/100-S-2480/
MLA
"S. 2480: Public and Tax-Exempt Employees Deferred Compensation Act of 1988." 100th Congress, 2026, Open America, https://openamerica.io/bill/100-S-2480/.
Bluebook (legal)
S. 2480, 100th Cong. (2026), https://openamerica.io/bill/100-S-2480/.
Markdown link
[S. 2480: Public and Tax-Exempt Employees Deferred Compensation Act of 1988](https://openamerica.io/bill/100-S-2480/)
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