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457(b) Plans for 401(k) Practitioners
Presentor: Derrin Watson Recorded Date: 1/12/2015 Duration: 100 Min.

This program was recorded during a live presentation given on January 12, 2015 at 12:00PM EST.

For governmental organizations, 457(b) plans can provide a valuable system for employee or employer retirement contributions, totally independent of qualified plans or 403(b) plans. In fact, a 457(b), combined with a 403(b), can allow a government employee to make elective deferrals of $33,000 this year (or more if the employee is catch-up eligible). 457(b) plans are also available for top executives of tax-exempt organizations.

While there are many similarities to 401(k) plans, there are also many important differences. This Web seminar gives the 401(k) practitioner all he or she needs to know to assist in designing and operating 457(b) plans. We’ll cover 457(b) plans from “soup to nuts,” emphasizing those areas where 457(b) differs from the typical 401(k) plan.

Topics include:

  • Governmental 457 plan
  • Tax-exempt 457 plan
  • Ineligible 457 plan (457(f) plan)
  • 457 plan requirements
  • Distribution and taxation rules
  • Catch-up options
  • Plan documents and amendments

Prerequisites: There are no prerequisites or other advanced preparation for this program. The speaker will not assume any experience with 457(b) plans, but will assume that attendees understand the basics of operating 401(k) plans.

Level: Intermediate

Instructional Delivery Method
Group – Internet-Based

S. Derrin Watson, J.D., APM
Recipient of ASPPA's 2006 Educator of the Year Award

Objectives: After this program, attendees should be able to:

  • Explain the differences between 457(b) and 401(k) plans
  • Explain the interaction between 457(b) and other tax-benefited retirement plans
  • Assist in designing a 457(b) plan which will meet a client’s objectives
  • Assist in the day-to-day administration of a 457(b) plan