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Roll 457 balance on a new employee into our 457 plan
We have an employee that was enrolled in a 457 plan at his old job.
Prior to him leaving he had contributed $8,038.47 in his Deferred Comp and $2,538.47 in his
catch up. However, we normally max out the deferred comp plan then max out the
catch up.
Can we add his prior balances to our 457 plan in Oracle and therefore it will allow
us to max out his deferred comp balance then the catch up. Also, we need to
make sure we don’t include his prior balances from his prior job on our year-end W2.
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