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Section 401(k), 403(b) and 457(b) plans: who can do what?
1School of Business and Economics, California State University, Hayward, USA.
Employee Benefits Journal
|March 29, 2001
Summary
This article explores three main supplementary pension plans, detailing their history, eligibility, contribution limits, and funding. It analyzes how recent changes impact these retirement savings vehicles.
Area of Science:
- Retirement Planning
- Financial Economics
- Public Policy
Background:
- Supplementary pension arrangements are crucial for retirement income security.
- Understanding their evolution is key to effective financial planning.
- Recent legislative and economic shifts necessitate a review of these plans.
Purpose of the Study:
- To examine the origins and development of three primary supplementary pension arrangements.
- To analyze employer eligibility, deferral, and contribution limits.
- To assess the impact of recent developments on funding and technical requirements.
Main Methods:
- Historical analysis of pension plan evolution.
- Comparative review of regulatory frameworks and technical specifications.
- Examination of recent legislative and economic influences.
Main Results:
- Identification of key historical milestones in supplementary pension development.
- Analysis of current employer eligibility criteria and contribution regulations.
- Assessment of how recent changes affect funding mechanisms and compliance.
Conclusions:
- Supplementary pension arrangements have diverse origins and evolving structures.
- Recent developments significantly influence the technical and financial aspects of these plans.
- A comprehensive understanding is vital for employers and employees navigating retirement planning.