The Internal Revenue Code requires retirement and nonqualified deferred compensation 457(b) plan participants who have reached a certain age and separated from service to receive required minimum distributions from their accounts each tax year. These required minimum distribution rules generally[…]
During the week of June 14, 2021, annual invoices will be emailed to your cooperative’s primary contact for current nonqualified deferred compensation plans. We make every effort to keep our records updated but recognize that your co-op’s primary contact for nonqualified[…]
During the week of June 15, 2020, annual invoices will be emailed to your cooperative’s primary contact for current nonqualified deferred compensation plan consulting service agreements. We make every effort to keep our records updated but recognize that your co-op’s primary[…]
Signed into law on December 20, 2019, the Setting Every Community Up for Retirement (SECURE) Act modifies the required beginning date for mandatory 457(b) plan distributions. The nonqualified deferred compensation plans impacted include: Executive Compensation 457(b) Plan for Employees/Directors; Global[…]
Participants in nonqualified deferred compensation 457(b) plans who are no longer working, reached age 70½ in 2019, and chose to delay their first required minimum payment until 2020, must take their distribution by April 1. Participants who do not withdraw[…]