Triple

Given a phrase, classify it is english named entity (e.g., persons, organizations, works of art) in Latin script, or not (e.g., literals, dates, URLs, verbose phrases). For disambiguation, the statement where the phrase occurs as object is also given. Please return a JSON object with `phrase` (string, the phrase being analyzed) and `is_ne` (boolean, indicating whether the phrase is a Named Entity).

Phrase: 402(g) elective deferral limit | Statement: [Internal Revenue Code Section 402(g), alsoKnownAs, 402(g) elective deferral limit]

Generate a one-sentence description of the target entity. 
You are given a context triple in the form (subject, predicate, object), where the object is the target entity. 
# Instructions
Use the triple to infer relevant information about the entity. Describe the entity based on what is most defining, well-known. 
Avoid repeating the information from the triple, unless really essential.
# Response Format
Return only the sentence: "Description: [one-sentence description of the target entity]"

Entity: 402(g) elective deferral limit
Triple: [Internal Revenue Code Section 402(g), alsoKnownAs, 402(g) elective deferral limit]

The 402(g) elective deferral limit is the annual cap set by the U.S. tax code on how much employees can contribute on a pre-tax or Roth basis to salary-deferral retirement plans such as 401(k)s and 403(b)s.