If you forgot what terror was like ... it's back.(401(k) plans)

No, it's not JAWS, it's LAWS ... That is, it is Congress' latest attempt at reforming the world through poorly thought out tax legislation. The latest attempt by Congress at social engineering is to create a new set of rules and restrictions that will, believe it or not, require employers and plan sponsors who want to have what is sometimes referred to as a 401(k) mirror plan (aka a "nonqualified deferred compensation plan") to jump through more hoops and undergo more contortions in order to permit such add-on deferral plans to work properly than is already the case with respect to their 401(k) plans. Yes, if you are confused by this, you are probably getting the idea: Employers will now need to be extraordinarily careful to make sure that they keep their nonqualified plans qualified to be nonqualified. Put a different way, there will be a …