457 Plans

Dana

Does anyone presently have a 457 plan? We are setting one up and we presently have a Pre-Tax 401A and a Non-Pretax 403B. Our in house attorney said that the $11000 limit on our 401A does not effect the 457 limit and can put $11000 in each plan. Does anyone have any regulations that would show different?

Scott Ruth

Under the tax law passed in 2001 (EGTRRA), this "stacking" of a 457(b) plan with other plans became possible. These 457(b) plans are only available to tax-exempt employers.