Voluntary 457 Plans
2013 IRS 457(b) Deferred Compensation Limits
Each year the IRS sets limits for how much a 457(b) Participant can contribute on a pre-tax basis. For participants who are age 50, additional contributions are allowed up to a higher limit. For participants who wish to use the “catch-up” provision and contribute more than the basic limit, the Retirement Office must be informed with a notation on the 457(b) Enrollment/Change Form. Unless otherwise noted, Participants will be limited to the annual limit of $17,500 for 2013.
Keep in mind that you can monitor your year-to-date contributions on your payroll check stub.
| Limit Year | 2013 Limit Amount | AGE 50 or Older |
| 2013 Annual Limit | $17,500 | $17,500 |
| Catch Up | $0 | $5,500 |
| Total Eligible 2013 457(b) Contributions |
$17,500 | $23,000 |
As a participant in the Asset Accumulation Plan, you are eligible to contribute to one of (4) four Voluntary 457 (b) vendors under the Knox County Retirement & Pension Board. You may contribute an additional percentage of pay on a pre-tax basis and your contributions are matched based on years of service.
| Years of Service | Employer Matching Contribution | The Employer matching contributions are deposited into your 401(a) retirement plan. |
| Less than 5 years | 0% | |
| 5 to 9 years | Up to 2% | |
| 10 to 14 years | Up to 4% | |
| 15 or more years | Up to 6% |
457 (b) Providers
-Knox County Voluntary 457 Plan
-Knoxville Teachers Federal Credit Union (KTFCU)-(Classified Only)
-Security Benefit
-Nationwide
Investment Fund List
For information regarding your Investment Funds through the Knox County Voluntary 457 Plan, please (click here) for the Funds List.
Other 457 Plan Providers
Knoxville Teachers Federal Credit Union (KTFCU)
- Please (click here) for a link directly to their website
Security Benefit
- Please (click here) for a link directly to their website
- Please (click here) for a link directly to their website
