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FP$515$ OnDemand Retirement Savings and Income Planning

Question $38$ of $85$

Question ID: $1421436$

All of these statements regarding Section $457$ plans are correct EXCEPT

A$)$ they may allow for special catch$-$up contributions in the participancs last three years of employment prior to the plan's normal retirement age.

B$)$ they are nonqualified deferred compensation plans of state and local government units and agencies, and non$-$church$-$controlled, tax$-$exempt organizations.

C$)$ church$-$related organizations, such as schools $($but not churchest, muy be eligible to establish a Section $457$ plan.

D$)$ contributions are after tax, but funds grow tax$-$deferred.

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