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tstracenercpa

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  1. Please Help, I have a 457 NPQDCP (Non profit qualified deferred compensation 457 plan) with a former employer. It is a pre-tax plan and the earnings have not been taxed federally, but they have been taxed for FICA. The gross funds are held in trust with AIG Retirement (in fixed investments for insurance protection I might add due to AIG and their shaky foundation). I have heard that these assets could potentially be at risk in the event of bankruptcy or litigation of my former employer. I fully expect the company to file bankruptcy within the next 2 years and will need to remove my funds if this is true. I prefer not to withdraw funds and pay the tax if possible. I am told the only rollover possibilities are to a comparable plan (not an IRA or 401K or 403B). This is impossible as i do not plan to be employed by another Non-Profit entity. My real question is since these are held by AIG in trust, do I have a risk with my former employer's bankruptcy, potential litigation, or anything else? I am only 38 so I prefer to keep this as a pre-tax plan as long as possible or until retirement to avoid federal taxation. Any input or experience on this topic is requested. Thanks Todd
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