Lifetime income illustrations

[Belgarath]

Stupid question, but I just want to make absolutely sure I'm not missing something - not applicable to 457 plans, right? Gracias.

[Peter Gulia]

The only dumb question is the one we didn’t ask.

For a governmental § 457(b) plan, a governmental plan is not governed by ERISA’s title I.

For an ERISA-governed plan, an administrator of an unfunded plan of deferred compensation for a select group of management or highly-compensated employees might avoid the ERISA § 105 requirement for a lifetime-income disclosure if the administrator met the conditions of the “alternative method of compliance” for such a select-group plan.

ERISA § 110, 29 U.S.C. § 1030 (empowering the Secretary to “prescribe an alternative method for satisfying any requirement of this part [part 1 of subtitle B of title I, ERISA §§ 101-111] with respect to any pension plan, or class of pension plans[.]”).

http://uscode.house.gov/view.xhtml?req=(title:29%20section:1030%20edition:prelim)%20OR%20(granuleid:USC-prelim-title29-section1030)&f=treesort&edition=prelim&num=0&jumpTo=true

29 C.F.R. § 2520.104-23 (Alternative method of compliance for pension plans for certain selected employees).

https://www.ecfr.gov/current/title-29/subtitle-B/chapter-XXV/subchapter-C/part-2520/subpart-D/section-2520.104-23#p-2520.104-23(a)

[Belgarath]

Thanks Peter. Precisely as I thought, but it is always comforting to get confirmation from someone else!