A 457(b) plan is a non-qualified tax-deferred compensation plan that works very much like other retirement plans such as the 403(b) and 401(k). This plan is restricted to the government and certain nonprofits. Employers are not required to make the plan available to all employees. However, any individual who performs service for the employer, including independent contractors, are eligible to participate in the plan. The employer’s plan document should spell out specific rules for contribution and distribution.
A 457(f) nonqualified deferred compensation arrangement is a nonqualified retirement plan which gives the tax-exempt employer an opportunity to supplement the retirement income of its select management group or highly compensated employees by contributing to a plan that will be paid to the executive at retirement. All nonqualified plans for tax-exempt employer executives must satisfy 457(f) requirements.
Begin your journey with Integrated Pension Services. We have a wide array of plans which you can discuss with one of our professional staff members.
Integrated Pension Services is dedicated to helping employers implement retirement plans that promote corporate goals and objectives, control costs and give employees a sense of security. Succinctly stated, our goal at IPS is to make every retirement plan we touch better.
Our greatest resource is our team of experienced professionals. Our clients are served by employees who have professional qualifications and whose backgrounds include many of experience in the pension and retirement field.