EGTRRA and 457(b) nongovernmental plans

[Guest Tina Baine]

I'm new to 457 plans. Under EGTRRA, does a non-profit employer adopting a 457(B) plan no longer have to coordinate deferred compensation limits with a 403(B) or 401(k) Plan? In other words, may a participant in both a 457(B) and a 401(k) plan defer $22,000 (or $24,000 with the catch-up) in 2002, even if the employer is a nongovernmental agency, under the new EGTRRA limits?

[Carol V. Calhoun]

There is now no coordination between 401(k)/403(B) elective deferral limits and 457(B) limits.