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Posts posted by marty

  1. Hi,

    I work for a not-for-profit, public benefit corporation. I believe we are Federal and State tax-exempt. We are a section 501c corporation. Our governmental 457(b) plan assets are in trust with Fidelity.


    I have read (but remain thoroughly confused) that the tax-exempt status of my employer confers different IRS rules on how i can use my 457(b) monies if i separate from my employer before normal retirement age.


    Specifically, if i retire/separate from service from my employer before age 591/2, and want to start taking periodic withdrawals from my 457(b) account, does the tax-exempt status of the company impact the options i have in taking withdrawals from my account.?


    And, if i cannot leave the funds at Fidelity in my current employer's plan, and decide to roll it over to a vanguard qualified plan, for example, does the tax-exempt status of my employer have any effect on how the rollover amount is taxed (i .e. do i get taxed on the full distribution in the year it is distributed from my prior employer?, or am i taxed only on the amounts i actually withdraw from the account at Vanguard in the year(s) in which i withdraw them ?)


    Wow, this stuff is complex and the IRS material leaves me feeling like i'm in a black hole where part A refers to part B, which refers to part C, which refers to part A, and somewhere along the way was a tiny paragraph that had a very small part of an answer, but never all the answer.

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