1. 457(b) Employee Module Catalogue code: B15
HIDDEN DESCRIPTION SLIDE — NOT TO BE SHOWN TO THE PUBLIC
457(b) Employee Module
Catalogue code: B15
Presentation or Module? Module
Slide numbers: B15-1 to B15-5
Registered/Non-Registered Usage: Allowed for all
Last update info: Date updated: Project # Description of changes: Update 2015 limits on #B15-3, update cover slide, update background.
Filed with FINRA? No If yes, date:
Notes:

2. 457(b) PLANS
457(b) Plans
Prior to 2002 — contributions reduced by amounts contributed to a 403(b) or 401(k) plan
Beginning in 2002 — coordination of the limits with other plans were removed
Two separate contribution limits allow maximizing contributions to both tax-sheltered plans
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3. 457(b) Contribution Limits
457(b) PLANS
457(b) Contribution Limits
Each year mirrors 403(b) and 401(k) salary reduction limits
Limit includes both elective and non-elective contributions
Within three years of retirement, may be eligible for up to double the normal limits
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4. Tax Saving Example 403(b) contribution $18,000
457(b) PLANS
Tax Saving Example
For employee age 50 or above in the 25% tax bracket, maximizing 2015 contributions
403(b) contribution
$18,000
403(b) catch-up contribution
$ 6,000
457(b) contribution
$18,000*
Total contributions
$42,000
2015 tax savings 25%)
$10,500
*Employees within three years of retirement may be able to contribute up to double the normal 457(b) limit.
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5. 457(b) PLANS
Other Considerations
Contributions considered general assets of the employer
Any employee can participate
Ability to designate minister’s housing allowance at retirement
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6. Other Considerations Separate accounting for each participant
457(b) PLANS
Other Considerations
Separate accounting for each participant
Quarterly account statements provided
Access to account information online or by calling the toll-free phone number
Variety of benefit payment options
B15-5