employment retention plan
Defined in 1 place of the United States Code.
The term “employment retention plan” means a plan to pay, upon termination of employment, compensation to an employee of a local educational agency or education association described in subparagraph (C) for purposes of—
(i) retaining the services of the employee, or
(ii) rewarding such employee for the employee's service with 1 or more such agencies or associations.
Source
- 2006–present26 U.S.C. § 457Internal Revenue Code · Deferred compensation plans of State and local governments and tax-exempt organizations · for purposes of this section