jstorch Posted November 3, 2006 Report Share Posted November 3, 2006 I'm working with an employer who we have determined is a local governmental employer for ERISA and tax purposes. Their head is maxed out in their defined contribution plan. On their face, the Code sections exempting local governmental plans from minimum participation and discrimination provisions, etc., would appear to allow them to put in a 401(a) qualified DB plan benefitting solely the top person (we've also discussed drafting it to benefit a few other of the key executives). However, this seems a way to permit additional executive deferred comp in a way contrary to the policy of 457(f), and I have not found any PLRs addressing this. So far, I've found nothing in the state statutes that would prohibit this either. Has anyone done something like this in practice? I'd appreciate any suggestions or thoughts. Link to comment Share on other sites More sharing options...
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