joel Posted December 31, 2001 Posted December 31, 2001 May a State or Local public employee pension fund operate a 457 plan?
Carol V. Calhoun Posted December 31, 2001 Posted December 31, 2001 The 457(B) trust fund cannot be part of a 401(a) pension fund. However, it is very common for a board of trustees of a state pension fund also to serve as the board of trustees of a statewide 457(B) plan, provided that applicable state law allows this. And in fact, if state law permits, the two plans can both invest in a group trust described in Rev. Rul 81-100, as modified by Code section 401(a)(25), if it is desired to have them invest as a unit. (Of course, you would want to look at state laws to determine whether the combined trust would be an appropriate investment for each of the participating plans.) Employee benefits legal resource site The opinions of my postings are my own and do not necessarily represent my law firm's position, strategies, or opinions. The contents of my postings are offered for informational purposes only and should not be construed as legal advice. A visit to this board or an exchange of information through this board does not create an attorney-client relationship. You should consult directly with an attorney for individual advice regarding your particular situation. I am not your lawyer under any circumstances.
joel Posted January 1, 2002 Author Posted January 1, 2002 Carol----thank you very much for all you do. Peace, Joel L. Frank
Recommended Posts
Create an account or sign in to comment
You need to be a member in order to leave a comment
Create an account
Sign up for a new account in our community. It's easy!
Register a new accountSign in
Already have an account? Sign in here.
Sign In Now