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The 457 plan is a type of nonqualified, [1] [2] tax advantaged deferred-compensation retirement plan that is available for governmental and certain nongovernmental employers in the United States. The employer provides the plan and the employee defers compensation into it on a pretax or after-tax (Roth) basis.
Like its better-known sibling — the 401(k) — a 457(b) retirement plan is a tax-advantaged way to save for retirement. But the 457(b) is designed especially for employees of state and local ...
The movement of funds from a 457(b) plan to an IRA, typically tax-free if completed within 60 days, is actually shifting money from one tax-advantaged account to another.However, any distributions ...
A church plan may be a defined benefit plan, a defined contribution plan, or a deferred compensation plan. [11] A church plan that is not subject to ERISA is not required to file an IRS Form 5500, nor is it required to distribute summary annual reports, summary plan descriptions, or summaries of material modifications to plan participants. [11]
Deferred compensation is an arrangement in which a portion of an employee's wage is paid out at a later date after which it was earned. Examples of deferred compensation include pensions, retirement plans, and employee stock options.
ICMA offers leadership and professional development training and fellowships across the world. It also has global programs to help build local capacity to meet economic, environmental, social, and public safety challenges, funded through a variety of federal agencies like USAID, Homeland Security , the Environmental Protection Agency, among others.
Deferred compensation plans in the US often have the benefit of employers' matching all or part of the employee contribution. In the US, Internal Revenue Code section 409A regulates the treatment for federal income tax purposes of “nonqualified deferred compensation”, the timing of deferral elections and of distributions. [26]
ICMA maintains the CEO Blog, [11] with links to LinkedIn and Twitter. For those members who already possess the CMA, ICMA provides Continuing Professional Development (CPD) [12] opportunities to members via its Certificates of Proficiency. [13] The ICMA is accredited by the Commonwealth of Nations under the category of Civic Organisations.