457 Plans

Plans of deferred compensation described in Internal Revenue Code (IRC) Section 457 are available for certain state and local governments, and non-governmental, tax-exempt entities under IRC Section 501. They can be either "eligible" plans under IRC Section 457(b) or "ineligible" plans under IRC Section 457(f).

Plans eligible under 457(b) allow employees of sponsoring organizations to defer income taxation on retirement savings into future years.

Local and accessible, Goldleaf Partners provides expert plan administration, recordkeeping and consulting services.

Plan Advantages:

• Contributions are tax-deferred.
• Earnings on the retirement money are tax-deferred.
• Permits high level of salary deferrals by employees.
• Special catch-up contributions.