457 Guidebook

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457 Guidebook Answers to your questions about 457 plans Neither Nationwide nor any of its representatives give legal or tax advice. For such guidance, please contact your legal or tax advisor. 457 Guidebook Table of Contents 457 Guidebook 4-5. 457 plan Basics Types of 457 6-7. Eligible 6. Eligible 6. plan 6-7. plan 7. Contributions Deferral 8. Automatic Enrollment ........................................ ........................................ ........................................ ......... 9. Maximum Deferral 9-10. Roth Elective 10. Contributions of Differential Pay for Employees in the 10. Make-up Deferrals for Employees Returning from Military 10. Coordination of 457 10-11. Special 457 Catch-up Contributions ........................................ ........................................ .................. 11-12.

Although federal tax laws have made governmental 457(b) plans more like 401(k) and 403(b) plans, significant differences remain. In 2004, the Internal Revenue Service issued Revenue Procedure 2004-56 providing model plan amendments that governmental employers and sponsors could use to amend or draft plan documents to comply with

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