Optional Provisions in a 457 Plan

Q. Are there any provisions that are optional for a 457 plan? 

A. Certain provisions are optional, such as:

• the age 50 catch-up limit;
• the special 457 catch-up limit; and 
• distributions for: 
  • unforeseeable emergences; 
  • loans; 
  • plan-to-plan transfers; 
  • additional deferral elections; 
  • acceptance of rollovers; and 
  • involuntary distributions of smaller accounts. 

However, the plan document must contain provisions for any of the options that the employer wishes to include in the plan.