Voluntary 457 Plans
2010 IRS 457(b) Deferred Compensation Limits Announced
Each year the IRS sets limits for how much a 457(b) Participant can contribute on a pre-tax basis. For participants who are age 50 or older and for those who are within 3 years of normal retirement (age 62, 63, 64 except for UOPP who is 3 years prior to 25 years of service with a minimal age of 50), additional contributions are allowed up to a higher limit. For participants who wish to use the “catch-up” provision and contribute more than the basic limit, the Retirement Office must be informed with a notation on the 457(b) Enrollment/Change Form. Unless otherwise noted, Participants will be limited to the annual limit of $16,500 for 2009.
Keep in mind, that you can monitor your year-to-date employee contributions on your payroll check stub.
Click here to download the 457(b) Enrollment / Change Form.
If you have any questions please contact the Retirement Office at 215-2323.
Limit Year |
2010 Limit Amount |
AGE 50 or Older |
Age 62, 63, 64 |
2010 Annual Limit |
$16,500 |
$16,500 |
$16,500 |
Catch Up |
$0 |
$5,500 |
$16,500 |
Total Eligible |
$16,500 |
$22,000 |
$33,000 |
As a participant in the Asset Accumulation Plan, you are eligible to contribute to one of (3) three Voluntary 457 (b) vendors under the Knox County Retirement & Pension Board. You may contribute an additional percentage of pay on a pre-tax basis and your contributions are matched based on years of service.
Years of Service |
Employer Matching Contribution |
The Employer matching contributions are deposited into your 401(a) retirement plan. |
Less than 5 years |
0% |
|
5 to 9 years |
Up to 2% |
|
10 to 14 years |
Up to 4% |
|
15 or more years |
Up to 6% |
457 (b) Providers
-Knox County Voluntary 457 Plan
-Knoxville Teachers Federal Credit Union (KTFCU) – (Classified School Employees Only)- -Security Benefits
Knox County Voluntary 457 Plan
For more information regarding the enrollment of this plan, please click here.
(Will provide this when available)
Investment Fund List
For information regarding your Investment Funds through the Knox County Voluntary 457 Plan, please (click here) for the Funds List.
Other 457 Plan Providers
Knoxville Teachers Federal Credit Union (KTFCU)
- Please (click here) for a link directly to their website
Security Benefit
- Please (click here) for a link directly to their website
Nationwide Retirement Solutions
- Please (click here) for a link directly to their website
