457(f) available?

[ERISAatty]

Need a reality check.

A church-related nursing home wants to adopt an executive comp plan for a key employee.

Since the nursing home is not a 501©(3), I believe that 457(b) is not an option.

Is a 457(f) plan an option for this type of employer?

And if so, are deferral elections possible? I have concerns that under IRS Notice 2007-62, these would be taxable at the time of deferral.

Would employee-only elections still work?

I realize this is an unsettled area, but am hoping someone can help me to be at least a tiny bit less confused than I currently am.

Thanks.

[ERISAatty]

I did just find this prior thread on the topic.

http://benefitslink.com/boards/index.php?showtopic=45736

Like the entity in that post, the nursing home I am working with is *not* a 3121 church. It is associated with a church within the meaning of 414(e)(D).

Just still not clear on whether 457(f) is an option or not.

[ERISAatty]

I ended up resolving this by taking a different approach altogether. No 457 plan of any kind.