457 Forms and Information

457 Salary Reduction Agreement Form

What is a 457 Plan?
A 457 plan is a tax deferred savings plan much like a 403B plan. Savings are pre-tax and earnings on investments are tax deferred.

Limits are equal to 33 1/3 or

Maximum Contribution: $16,500 in 2010. If you are over 50, you can defer an additional $5,500

There is a 3 year catch up rule that allows participants in one or more of the three years ending before the attainment of normal retirement age under the plan to make additional deferrals.

Tax Credits: Effective 2002, available for up to 50% of contributions in addition to other tax benefits offered.

Example: Adjusted Gross Income Limits for someone Married filing a joint return:
$0-$30,000 50% of contributions
$30,001-$32,500 20% of contributions
$32,501-$50,000 10%of contributions
Over $50,000 No contribution available

Service Provider:  ING
Contact:  Robert Klein (800) 784-6386 ext. 580-1636

Service Provider:  New England Capital
Contact:  Chris Beale