CERTIFIED FINANCIAL PLANNER CERTIFICATION PROFESSIONAL EDUCATION PROGRAM Retirement Planning & Employee Benefits. Session 10 403(b) and 457 Catch-Ups. Session Details. 403(b) Fundamentals. Qualified employers Public educational systems 501(c)(3) organizations
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Session 10403(b) and 457 Catch-Ups
Two basic types of 403(b) arrangements
Nonelective Employer Contributions
The lesser of the following two limits:
generally not permitted,
A 457 plan is a deferred compensation plan, not a
qualified plan, and therefore not subject to many of
the qualified plan rules.
Two main categories of 457 plans:
Age 50 catch-up
Final three years catch-up
Which one of the following is not a provision of TSAs?
Which one of the following is not a provision of the special limits that are available to certain employees in a TSA plan?
Which one of the following is not a provision of Section 457 plans?
John Billups, age 53, participated in his former employer’s 457 plan. He terminated several weeks ago and just received his distribution check.
Which of the following statements is true?
Rita, age 63, has worked for the local animal rescue shelter for the past 17 years. The shelter offers a 403(b) plan for all of its full-time employees. Rita is currently the senior accountant, and plans to retire within the next three years. Her current annual compensation is $75,000.
What is the maximum amount that Rita could defer this year (2014)?
Which one of the following statements is correct regarding 403(b) plans and Section 457 plans?
Session 10End of Slides