Guest RMM Posted February 7, 2000 Share Posted February 7, 2000 Does anyone no of any good sources/articles to review regarding a "rolling" vesting schedule for a 457(f) plan designed to allow the participant to continue to defer his or her funds by continually electing a new period during which the funds will be subject to a subst'l risk of forfeiture and therefore not taxable? I have heard the IRS may not accept these types of rolling schedules. Link to comment Share on other sites More sharing options...
Carol V. Calhoun Posted April 18, 2000 Share Posted April 18, 2000 Yep, that's what I hear, too. However, my understanding is that it is as yet an unofficial position--there has not been any official guidance on it. Is anyone aware of any? ------------------ 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. Link to comment Share on other sites More sharing options...
Kirk Maldonado Posted April 18, 2000 Share Posted April 18, 2000 Check out PLR 9431021. Kirk Maldonado Link to comment Share on other sites More sharing options...
Carol V. Calhoun Posted April 18, 2000 Share Posted April 18, 2000 Thanks, Kirk! ------------------ 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. Link to comment Share on other sites More sharing options...
Guest Ralph Amadio Posted May 22, 2000 Share Posted May 22, 2000 Believe there were several back in the 80's after the initial 457 law was tightened up. Some were involved in the definition of "severance pay plans". The ones that I remember were negative as well. Link to comment Share on other sites More sharing options...
Kirk Maldonado Posted May 22, 2000 Share Posted May 22, 2000 PLR 9431021 approved the rolling vesting schedule. Kirk Maldonado Link to comment Share on other sites More sharing options...
Guest hal lamb Posted June 4, 2000 Share Posted June 4, 2000 Can someone explain the meaning of substantial forfeiture re. 457(f)? I'm in this plan and was basically told: 1)Your money takes three years to vest. 2)If you quit your job then you could "lose" your non-vested years (ie. the last 2-3 years). 3)You can contribute up to 100% of your income tax deferred. 4)If you are terminated then you can receive all your money. 5)Your money is subject to the employer's creditors. Can someone answer me as to the correctness of the things? ------------------ Hal Lamb [This message has been edited by hal lamb (edited 06-12-2000).] Link to comment Share on other sites More sharing options...
QDROphile Posted June 9, 2000 Share Posted June 9, 2000 Don't forget to worry about this statement: "When you vest after year 3 and continue to work for the employer, you will get taxed on your balance even though you don't get any distribution at that time." Link to comment Share on other sites More sharing options...
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