Christine Roberts Posted March 15, 2000 Posted March 15, 2000 Can a non profit employer (nongovermental) establish an eligible 457(B) plan for a top hat group? Contributions will not exceed amount for which ineligible, 457(f) plan is required. Is this practical, where employer intends to make contributions as percentage of income, rather than to allow deferrals?? ------------------
Carol V. Calhoun Posted March 22, 2000 Posted March 22, 2000 Absolutely! There is no requirement that a 457(B) plan have employee contributions. And a 457(B) plan for a tax-exempt organization (other than a governmental organization) must be a top hat plan, since otherwise, ERISA would require funding the plan, which would eliminate its 457(B) status. ------------------ Employee benefits legal resource site 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.
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