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Deferred Comp - 457(b) and 457(f)

The Principal® Deferred Comp - 457(b) plan and the Principal® Deferred Comp 457(f) plan are offered exclusively for non-governmental tax-exempt organizations. These organizations may offer nonqualified deferred compensation plans for a select group of highly compensated or key management employees. These retirement plan benefits are available to these employees outside the restrictive eligibility, vesting and contribution limitations of ERISA.

The 457(b) and 457(f) plans can work independently or in conjunction with each other.

  • 457(b) allows both participant and plan sponsor contributions in excess of retirement plan limitations up to annual limits.
  • 457(f) allows the only the organization to make discretionary contributions in addition to the 457(b) limitations. Participant contributions are not allowed in this plan.

View Employer Summary (BB9486) to review the benefits and considerations of these plans for plan sponsors and participants.

Important Information

When we use the term “money manager,” we may be referring to an investment advisor or sub-advisor of an underlying mutual fund.

Before investing in mutual funds or variable life insurance, investors should carefully consider the investment objectives, risks, charges and expenses of the funds or the policy and the underlying investment options or online at www.principal.com. This and other information is contained in the free prospectus and, if available, the summary prospectus that can be obtained from your local representative or online at www.principal.com. Please read the prospectus and, if available, the summary prospectus carefully before investing.


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