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buffcody

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  1. I very much appreciate your reply, Joel, but still need to convince both the finance company rep and the plan administrator that it is legal for my wife to take DAR. Your defintion of NRA seems to be a different one than they are working with. For them, NRA is precisely the age 55 stated in the plan document. So, I guess I am in need of some authoritative locus that I can share with them about what NRA means, if, indeed, it is different than what they think it means. Do you know where I can find an authoritative reference?
  2. My wife would like to maximize contributions to her 457b over the next three years beyond the $20,500 allowed to someone over 50. We have inquired into the regulations that govern being able to contribute up to $30,000. The plan document seems to put the normal retirement age at 55 (though, in reality, no one or hardly anyone ever retires at that age and pensions are not available until one is 60). The question is whether this mention in the plan document means that one could only take advantage of the special catchup contributions, therefore, at age 52-54. The plan administrator does not seem to be too savvy about this matter nor does the rep from the investment firm who gets all the 457b business. Frank
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