My employment with a NP philanthropic trust is terminating at the end of 2012. I am currently the only peron with a 457B. It will be more advantageous to me to postpone a payout of the assets in the 457B until at least 2014.
This NP's bylaws state that the NP will terminate upon the death of its benefactors after which a NP private foundation is to be formed with the remaining trustees and will receive any remaining assets of the old NP. What happens if this occurs between the time of my departure and the scheduled payout? Does my 457B transfer to the new entity or, because the old entity terminates, is the 457B immediately distributed? or am I in danger that the assets in my 457B could be assumed by this new foundation and that they might not honor the payout?