Gary, age $50,$ participates in an eligible Section $457$ plan through his non$-$church$-$controlled, private, tax$-$exempt employer. Which of these statements regarding Gary's nongovernmental plan is CORRECT?

If Gary has elected the three$-$year catch$-$up provision, he may also use the regular age$-50-$and$-$over catch$-$up provision in the same tax year.

He must pay income tax on distributions when there is no longer a substantial risk of forfeiture, which may be earlier than when the distribution is actually paid.

During the last three years of employment before the plan's normal retirement age, Gary's elective deferral may be increased to up to $$46,000$ in $2024.$

Section $457$ plan distributions are not eligible for net unrealized appreciation treatment.

A$)$

I, III, and IV

B$)$

II$,$ III, and IV

C$)$

I, II$,$ and III

D$)$

II and III