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Full vesting on Er Contributions at NRA


austin3515

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I have a 457plan with a rolling 5 year vesting provision, so 2013's contributions vest in 2018 and so on. However, the Participant becomes fully vested at NRA.

Is this easily corrected by distributing the excess before 4/15th of the tax year following the year in which the contributions vest? Or is this a bad plan design doomed from the start (assuming the individual will work until NRA).

There would have to be some provision like this, otherwise the Executive will ALWAYS forfeit something.

I'm wondering if we should set up a separate 457(f) Plan for the employer contributions. I suppose there is no reason not to set up the 2nd plan?

Austin Powers, CPA, QPA, ERPA

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