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72 White Oak Road
Wellesley, MA 02481

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813-789-4846

 

Public Sector - 457 & 401(a)

Public Sector - 457, 401(a) and Beyond...

457 Plan – A non-qualified, deferred compensation plan.  Employer-sponsored retirement savings plan, usually offered by municipalities and governmental entities, which allow employees to defer a portion of their current compensation for payment at a later date, generally retirement. Salary deferrals (or contributions) are voluntary, and are made through the ease of payroll deduction. Under this plan, contributions and earnings accumulate tax-deferred and withdrawals are taxed as ordinary income. This plan offers an important supplement to pension plans and/or Social Security.

401(a) Plan - A money-purchase retirement savings plan that is set up by an employer. The 401(a) plan allows for contributions by the employee, the employer, or both. Contribution amounts, whether dollar-based or percentage-based, eligibility, and vesting schedule are all determined by the sponsoring employer.   Funds are withdrawn from a 401(a) plan through lump-sum payment, rollovers to another qualified plan, or through an annuity.  A 401(a) plan does not affect a participant’s 457 Deferred Compensation plan or the amounts that can be contributed to it.

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 Plan Sponsor Services Include:

  • Plan Design Assistance
  • Investment Menu Review & Analysis
  • Plan & Vendor Benchmarking
  • Assistance with Custom Investment Policy Statement (IPS) Design & Review
  • Fee Review, Analysis & Negotiation
  • ERISA Compliance Reviews Assistance
  • Plan Document Services
  • Vendor Management & Negotiation
  • Plan Committee Education
  • Independent Objective Investment Advice
  • On-site Employee Education & Enrollment Services
  • Plan Conversion Assistance
  • Competitive Pricing & Comparisons

** Additional customized options may include:

  • Self-Directed Brokerage Accounts
  • Open Architecture Investment Offerings

Participant Services for Include:

  • Comprehensive Investment Menus
  • Tax-deferred Retirement Savings
  • Competitive Pricing
  • Retirement Counseling
  • Independent Objective Investment Guidance
  • Managed Account Services 
  • On-Site Services