457 Deferred Compensation Plans

Contact Bret Harding for Utah Small Group Health Insurance: 801-372-2647

Blackrock Financial Group has been hired by many organizations to design supplemental executive retirement plans for key individuals within their institutions. Two types of 457 plans exist, 457(F) and 457(B).

A 457(f) Non-qualified Deferred Compensation Arrangement is a non-qualified retirement plan which gives the tax-exempt employer an opportunity to supplement the retirement income of its select management group or highly compensated employees by contributing to a plan that will be paid to the executive at retirement.

A 457(b) Deferred Compensation Plan is a non-qualified plan available to highly-compensated individuals of tax-exempt institutions. This plan offers the executives an additional opportunity to defer an additional portion of their earnings on a pre-tax basis to reduce their taxable income and accelerate their retirement saving.