Section 457 Plans

A retirement plan especially for municipal employees.

A Section 457 Plan is a smart option for municipal employees or educators to save for retirement, because the money they set aside can grow tax-deferred, meaning no tax is due until the money is distributed. The amount deferred can often be in addition to a contribution to a Traditional IRA.

• Smart way to invest for retirement.
• Earnings grow tax-deferred.
• Save on current income taxes.

Contact an Illinois State Bank Deferred Compensation Plan Consultant today!

Who it's for?

Those municipal employees and educators who wish to save money for a more comfortable retirement.

• Enroll in North Shore Bank's Deferred Compensation program.
• Current participants; change the dollar amount you are saving per pay period.

What's in it for you?

• Deferrals are tax-deferred.
• Money grows tax-deferred.
• Illinois State Bank Certificate of Deposits are FDIC insured.

Additional Links

• At North Shore Bank, our personal service and experience set us apart from other Section 457 Plan providers. In fact, we have been assisting customers manage Section 457 Plans for over 29 years. What's more, our Section 457 Plan Specialists are available to meet with you in a location and at a time most convenient and comfortable for you---even in your home.
• View your Diversified Fund investments.
• View your Nicholas Fund investments.

What else you should know.

• Find out if your employer has named Illinois State Bank as its Section 457 Plan provider. If not, please contact our office and we can make it happen for you.
• For calendar year 2009, you can contribute any amount up to $16,500 per year. Participants over the age of 50 may also set aside an additional $5,500 per year.
• Also, a special "catch-up" provision permits participants within three years of retirement to shelter twice the normal permitted maximum amount.
• You may take distributions upon your retirement and elect to receive your funds as monthly, quarterly or annual payments; you may also elect to receive a lump sum distribution.

Please note:

• The product is not a deposit or other obligation of the Bank and is not guaranteed by the Bank.
• The product is not insured by FDIC or any agency of the United States or the bank.
• There is investment risk associated with the product, including the possible loss of value.