ELIGIBLE 457(b) PLAN CONTRIBUTIONS
01.Core Concepts
• Employees defer salary much like 401(k) plan: • Annual limit is the same as 401(k) and includes employee and employer contribution – generally only employee contributions are made. • Not aggregated with 401(k), 403(b), SARSEP, or SIMPLE deferral limits • Public 457 Plans: • Employees of public 457 plans can make use of one of two catch-up provisions • Contributions are protected by trust • Private 457 Plans: • Employees of private 457 plans can make use of only one catch-up provision (final 3-year) • Contributions are not protected by trust Eligible 457 Plan Catch-up Provisions 1. Age 50+ 2. Final 3-year