SECTION 4. RELIANCE BY

EMPLOYERS WITH PRIOR § 457(b) RULING

.01 Reliance—An employer entitled to rely on a private letter ruling issued to it prior to August 10, 1998, regarding the eligibility of a plan under § 457(b) that is a defined contribution plan as defined in § 414(i) will not lose its right to rely on its letter ruling merely because it adopts one or more of the amendments set forth in this revenue procedure on a word-forword basis. Such an employer may adopt

the applicable model amendments provided under this revenue procedure on a word-for-word basis and continue to rely on the previously issued private letter ruling regarding its § 457(b) plan without filing another request with the Service for a new private letter ruling.

.02 Superseding obsolete prior provisions—An employer that satisfies the conditions of Section 4.01 above and that amends its § 457(b) plan to include one or more of the model amendments set forth in this revenue procedure on a word-forword basis will also not lose its right to rely on its prior letter ruling merely because it replaces obsolete terms (such as replacing “bookkeeping accounts” or “hypothetical accounts” with “accounts”), or deletes prior provisions that are inconsis

tent with the model amendment so adopted.