Accelerated 457(b) Plan Contributions

Robert Canham

Hi,

We are setting up a 457(b) benefit plan in our system. Previously we managed these with a deduction. We have run into an issue with contributing amounts to the plan.

We have some plan participants who prefer to contribute higher in the beginning of the year to max out their contribution early. At that point it stops contributing once they have hit the limit.

When we tried to do this with a benfeit plan though, it wouldn't let us contribute per pay period more than the maximum / 26 pay periods.

Does anyone know of a way around this?

Thanks in advance.

plancor

Our 457 plan allows participants to change their contribution at any time. Your message sounds like your plan may be set up as an RS plan, maybe? Ours is a DC plan.