457 Plan Eligibility?


N

ncaraway

I'm senior level staff in a small (less than 20 staff) national
nonprofit and I have maxed out my contribution to our 403b plan. The
organization does not offer matching contributions. I just learned
that the organization recently started a 457 plan in addition to the
403b. It is my understanding that one can participate in both a 403b
and a 457. Apparently, however, our CEO has only "invited" 1-2 other
staff members (in addition to himself) to participate in this plan. I
contacted the IRS to find out if this is legal and they weren't able
to give me an answer. Can anyone provide any insight into this?

Many thanks.
 
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