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457 Plan |
Also found in: Wikipedia | 0.03 sec. |
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457 Plan A non-qualified, deferred compensation plan established by state and local governments and tax-exempt governments and tax-exempt employers. Eligible employees are allowed to make salary deferral contributions to the 457 plan. Earnings grow on a tax-deferred basis and contributions are not taxed until the assets are distributed from the plan. Notes: Employees are allowed to defer up to 100% of compensation not exceeding the applicable dollar limit for the year. If the plan does not meet statutory requirements, the assets may be subject to different rules. |
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? Mentioned in | ? References in periodicals archive | ||
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| The new VA offers 46
funds in all and can be used for 401(k) plans, 457 plans, and
money-purchase and profit-sharing plans. It pays to
start investing early in retirement savings, whether it's a 401(k),
403(b), or Section 457 plan. With a 457 plan, deferrals should be included as compensation on
Form 990 for an officer, director, key employee, or one of the five
highest-paid employees. |
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457 Plan