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The Proper Timing of 457(b) Deferral Elections

The Proper Timing of 457(b) Deferral Elections

by Jeff Chang | Apr 4, 2022 | 457(b) Plans, Plan Administration, Record-keeping

Although many people think that governmental section 457(b) plans and private sector 401(k) plans are the same – because they both allow pre-tax deferrals of similar amounts of income – they are not the same. Due to their differing origins, their rules and...
What Happens to Participants’ 457(b) Deferral Elections When they Pass Away?

What Happens to Participants’ 457(b) Deferral Elections When they Pass Away?

by Jeff Chang | Oct 27, 2021 | 457(b) Plans, Fiduciary Responsibilities, Income Tax, Plan Administration, Record-keeping

Just the other day, a public agency client contacted us to find out what to do with a participant’s 457(b) plan deferral election following the participant’s untimely death due to COVID. As with most cases, cities and special districts would owe the former employee...

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