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B-214157-O.M. 1 (1984-04-02)

handle is hein.gao/gaobadpgq0001 and id is 1 raw text is: . 47 jrNUE STATES GOVERNMENT GENERAL ACCOUNTING OFFICE Memorandum April 2, 1984. ro assistant to tne Comptroller General for Federal Retirement Matters - Clifford I. Gould FlOM Acting General Counsel - Harry Van Cleve SUBJEMT Section 401(k) Salary Deferral Plan for GAO Employees, B-214157-O.M. This memorandum responds to the questions you raised in your memorandum of January 17, 1984, concerning the possibil- ity of establishing a Section 401(k~deferred compensation plan for GAO and/or other Federal Government employees. Question 1: Does GAO have the authority to establish a salary deferral plan for its employees as provided under section 401(k) of the Internal Revenue Code? Answer 1: The definitive answer to this question can only be provided by the Internal Revenue Service. However, we have reviewed the applicable statutes, regulations, case law and other authorities, and we have concluded that the better view is that a section 401(k).Xplan for GAO employees cannot be established without specific legislation. Question 2: If the answer to the first question is yes, does GAO have the authority to match employee contributions to such a plan? Answer 2: Although our answer to Question I makes a response to this question unnecessary, since we cannot provide an absolute answer to Question 1, we will answer Question 2. we conclude that even if GAO has the authority to establish a 401(k) plan, the provisions of 5 U.S.C. § 5536V(1982) would preclude GAO from matching employee contributiohs. Question 3: If GAO does not have the authority, does OPM have the authority to establish a Government-wide salary deferral plan for all Federal employees?

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